One of the major insights by economist John Maynard Keynes about inventories and demand was that if planned inventories:
A. > actual inventories then demand was higher than anticipated.
B. < actual inventories then demand was lower than anticipated.
C. = actual inventories then demand was higher than anticipated.
D. > actual inventories then demand was lower than anticipated.
D. > actual inventories then demand was lower than anticipated.
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Expenditures on U.S. produced steaks, shoes, and doctor visits are most likely classified as
A) net imports of goods and services. B) investment. C) government expenditure on goods and services. D) net exports of goods and services. E) consumption expenditure.
Which of the following is true?
a. Employers who discriminate against women will have lower costs than rival firms that hire employees strictly on the basis of merit (productivity). b. If employers can hire equally productive female employees at a lower wage than males, the profit motive gives them a strong incentive to do so. c. The female/male earnings ratio is higher for persons who are married than for those who remain single. d. Both a and c are true.
If a country had capital flight, then the real exchange rate would
a. fall. To offset this fall the government could increase the budget deficit. b. fall. To offset this fall the government could decrease the budget deficit. c. rise. To offset this rise the government could increase the budget deficit. d. rise. To offset this rise the government could decrease the budget deficit.
Which of the following is a normative question?
A. What will happen to gasoline consumption if the federal tax on gasoline is eliminated? B. How will oil exploration be affected if the government subsidizes oil producers? C. To reduce the regressive nature of the gasoline excise tax, should the portion of the gasoline excise tax paid by high-income individuals be increased? D. Why do gasoline prices increase between Memorial Day and Labor Day?