When real Gross Domestic Product (GDP) exceeds total planned real expenditures,
A) a higher level of equilibrium real Gross Domestic Product (GDP) will prevail.
B) the circular flow will increase.
C) a lower level of equilibrium real Gross Domestic Product (GDP) will result.
D) there will be unplanned decreases in inventories.
C
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Juanita goes to the Hardware Emporium to buy a new circular saw. She is willing to pay $120 for a new saw, but buys one on sale for $85. Juanita's consumer surplus from the purchase is
A) $35. B) $85. C) $120. D) $205.
Alan Kulikoff (2000) maintains that the opportunity to own land privately provided many individuals with incentive to relocate to colonial America and accept the associated risks
Indicate whether the statement is true or false
Which of the following would shift the supply curve for gasoline to the right? a. an increase in the demand for gasoline
b. an increase in the price of gasoline. c. an increase in the number of producers of gasoline. d. an increase in the price of oil, an input into the production of gasoline.
A low price-earnings ratio indicates that either the stock is
a. undervalued or people are relatively optimistic about the corporation's prospects. b. overvalued or people are relatively optimistic about the corporation's prospects. c. overvalued or people are relatively pessimistic about the corporation's prospects. d. undervalued or people are relatively pessimistic about the corporation's prospects.