What are inventories? What usually happens to inventories at the beginning of a recession, and what usually happens to inventories at the beginning of an expansion?
What will be an ideal response?
Inventories are goods that have been produced but not yet sold. Inventories rise at the beginning of a recession and fall at the beginning of an expansion.
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The income approach measures GDP by summing
A) the wealth of households, business and government. B) the incomes paid households for the resources they own. C) the total production of all final goods and services produced in a year within a country's borders. D) C + I + G + NX. E) Both answers A and D are correct.
The United States became a net international debtor in 1985 for the first time since World War I
Indicate whether the statement is true or false
The ________ interest rate equals the ________ interest rate minus ________.
What will be an ideal response?
Use the following graph to answer the question below.
If the price increases from P1 to P2, then the total revenue will gain areas
A. E + F + G, but it will lose area J. B. B + E, but it will lose areas H + I + J. C. A + B + C, but it will lose areas G + I + J. D. C + F + H, but it will lose area J.