When an expansion is triggered by a(n) ________ in autonomous expenditure, the economy turns the corner into ________, and aggregate planned expenditure exceeds real GDP. Firms' inventories ________
A) increase; recession; decrease
B) increase; recession; increase
C) increase; expansion; increase
D) increase; expansion; decrease
E) decrease; expansion; decrease
D
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The price elasticity of demand for mobile phones
a. will be higher if there is an improvement in the production technology. b. will be lower if consumers perceive mobile phones to be a necessity. c. is computed as the percentage change in the price of mobile phones divided by the percentage change in quantity of mobile phones. d. All of the above are correct.
The addition to the economy's capital stock can be found by
A. Subtracting net income from gross investment. B. Subtracting NDP from GDP. C. Subtracting depreciation from GDP. D. Subtracting depreciation from gross investment.
Which of the following products would most likely be produced in a monopolistically competitive market?
A. gasoline B. corn C. local water supply D. pizza
Inflation initiated by increases in wages or other resource prices is labelled:
What will be an ideal response?