Firms in a small economy planned that inventories would grow over the past year by $500,000. Over that year, inventories did grow by exactly $500,000. This implies that
What will be an ideal response?
aggregate expenditure that year was equal to GDP that year
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Until the last half of the twentieth century, most people did not have health insurance
a. True b. False
Which landmark legislation protected the right of workers to organize and bargain collectively?
a. Landrum-Griffen Act b. Taft-Hartley Act c. Wagner Act d. Walsh-Healy Act
Higher interest rates will tend to reduce aggregate demand, other things being equal
a. True b. False Indicate whether the statement is true or false
A particular brand of toothpaste costs 4 British pounds in London. The nominal exchange rate is .80 and the real exchange rate is about 1.16 . These numbers imply that the U.S. price of the same toothpaste is about
a. $5.79 b. $4.29 c. $3.70 d. $2.76