Inventory is the
a. net change in inventories of final goods awaiting sale.
b. net change in inventories of materials used in the production process.
c. included in investment when calculating GDP.
d. Both a and b.
e. All of the above.
E
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A small country is an international borrower if its real interest rate without foreign borrowing is ________ the world real interest rate
A) higher than B) equal to C) lower than D) not comparable to
Public choice theory assumes that voters, politicians, and other political participants are largely motivated by: a. personal self-interest
b. altruism. c. a desire to promote the general welfare. d. a desire to promote allocative economic efficiency.
Federal budget deficits
A. help stabilize the economy during recessions and depressions. B. depress interest rates. C. rarely occurred prior to the Reagan Administration. D. stimulate investment spending by businesses. E. are always undesirable.
The equation of exchange can be stated as
A. MV = PQ. B. PV = MQ. C. MQ = V รท P. D. MP = VQ.