In the aggregate expenditures model, if aggregate expenditures (AE) equal $4 trillion and GDP equals $3 trillion, then:
A. inventory depletion equals ?$1 trillion.
B. inventory accumulation equals $1 trillion.
C. investment equals ?$1 trillion.
D. investment equals $1 trillion.
Answer: A
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Labor productivity increases when
A) the average number of hours people work goes up. B) the unemployment rate decreases. C) the average output produced per worker during a specified time period increases. D) the average output produced per worker during a specified time period decreases.
Microeconomics focuses on: a. economic growth
b. trade balances. c. unemployment. d. the actions of individual households.
Suppose you put $500 into a bank account today. Interest is paid annually and the annual interest rate is 8 percent. The future value of the $500 after 2 years is
a. $428.67. b. $470.00. c. $580.00. d. $583.20.
Human resources that perform the functions of organizing, managing, and assembling the other factors of production are called
A. productive capital. B. venture capital. C. entrepreneurs. D. physical capital.