The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. If real GDP is equal to $400 billion then,
A) unplanned inventory is -$300 billion.
B) aggregate expenditure is equal to consumption expenditure.
C) unplanned inventory is -$200 billion.
D) aggregate expenditure is $450 billion.
E) unplanned inventory is $200 billion.
C
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Under the rational expectations hypothesis, if wages adjust rapidly to new information about intended policy actions, monetary policy can have an effect
A) in the long run, but not the short run. B) only in the short run and only if the policy is unanticipated. C) in both the short and the long run. D) only in the long run and only if the policy is fully anticipated.
Falling transportation costs in the 19th century
a. fostered regional specialization according to comparative advantage. b. created increasing lags for price declines along the Mississippi. c. propelled the process of western expansion. d. All of the above. e. Both a and c are correct.
The objective of creating value is the same as
A) maximizing shareholder value. B) maximizing profit. C) maximizing added value. D) all of these choices.