Assume that inventories declined by more than analysts predicted. This implies that
A) planned aggregate expenditure was less than real GDP.
B) planned aggregate expenditure is unrelated to real GDP.
C) planned aggregate expenditure was greater than real GDP.
D) planned aggregate expenditure was equal to real GDP.
C
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Economic efficiency occurs when the firm produces a given output
A) by using the least amount of inputs. B) by using the maximum amount of inputs. C) at the least cost. D) at the greatest cost.
The Congress of Industrial Organizations (CIO) was formed in 1938 by
A) John L. Lewis. B) Samuel Gompers. C) Walter Reuther. D) Ralph Nader.
If in the past Congress had taken additional actions to make saving more rewarding, then today it is likely that the equilibrium interest rate
a. and the equilibrium quantity of loanable funds both would be lower. b. and the equilibrium quantity of loanable funds both would be higher. c. would be higher and the equilibrium quantity of loanable funds would be lower. d. would be lower and the equilibrium quantity of loanable funds would be higher.
A pharmaceutical company develops a new drug for treating cancer. What type of market barrier has been created?
a. Licenses b. Patents c. Control of an essential resource d. Economies of scale