If aggregate planned expenditure exceeds real GDP, then
A) unplanned inventory changes are positive.
B) real GDP will decrease.
C) aggregate planned expenditure must decrease to restore the equilibrium.
D) planned inventory changes must be negative.
E) unplanned inventory changes are negative.
E
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A specialized worker doesn't spend time switching from one task to another. This source of productivity increase is called
A) functionality. B) continuity. C) innovation. D) repetition.
The weighted average of all possible outcomes of a project, with the probabilities of the outcomes used as weights, is known as the
A) variance. B) standard deviation. C) expected value. D) coefficient of variation.
Exhibit 3-6 Milk market Price per Quart Quantity Demanded (Quarts per week) Quantity Supplied (Quarts per week) 0.70 20 180 0.60 60 140 0.50 100 100 0.40 140 60 0.30 180 20 In Exhibit 3-6, which of the following is true about the milk market? ?
A. At price 0.60 there is an excess demand of milk. B. At price 0.40 there is an excess supply of milk. C. At price 0.70 there is an excess supply of milk. D. At price 0.50 there is an excess demand of milk.
If the value added of a firm is positive, will the firm necessarily have positive profits?
What will be an ideal response?