Purchases of new plants and equipment plus any desired changes in business inventories are
A. Economic investment.
B. Actual investment.
C. Undesired investment.
D. Desired investment.
Answer: D
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When long-run average cost decreases as output increases, there are definitely I. increasing marginal returns. II. economies of scale
A) only I B) only II C) both I and II D) neither I nor II
If total planned expenditures exceed real GDP, the economy will contract, causing production of goods and services to decrease and unplanned inventories to rise
a. True b. False Indicate whether the statement is true or false
Which measurement is most useful for comparing the standard of living in different countries?
A. The growth rate of real GDP. B. GDP per capita. C. GDP per worker. D. The growth rate of the labor force.
The effect of automatic stabilizers on the business cycle is to _____
Fill in the blank(s) with the appropriate word(s).