Ignoring the government and foreign sectors, if planned investment spending is $500 billion, planned saving is $800 billion, and real Gross Domestic Product (GDP) is $13 trillion, then unplanned inventories will
A) decrease $300 billion.
B) increase $300 billion.
C) increase $800 billion.
D) not change.
Answer: B) increase $300 billion.
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A key resource is a material:
A) that is unlimited in supply. B) that is rationed by the government. C) that is available to monopolies only. D) that is essential for the production of a good.
Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she charges $7. How many hours will be purchased and what is her total revenue?
A) 5 hours; total revenue = $35 B) 4 hours; total revenue = $28 C) 3 hours; total revenue = $21 D) 2 hours; total revenue = $14
Free trade is better than protection for a small country
Indicate whether the statement is true or false
Which of the following was the first to prohibit "conspiracies in restraint of trade"?
A. The Sherman Act. B. The Gramm-Rudman Act. C. The Federal Trade Commission Act. D. The Clayton Act.