Refer to the information provided in Table 23.9 below to answer the question(s) that follow. Table 23.9
Refer to Table 23.9. At an aggregate output level of $100 billion, the unplanned inventory change is
A. -$80 billion.
B. -$30 billion.
C. -$20 billion.
D. $120 billion.
Answer: A
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Which of the following factors would economists consider "key" to economic development?
A) policies that promote consumption expenditures by households B) establishing a system of property rights C) expansionary monetary policy D) All of the above are correct.
According to the U.S. Treasury,
A) creditors do not have to accept cash in payment of debts. B) U.S. dollars must be accepted as payment for any good or service sold in the United States. C) firms do not have to accept cash as payment for goods and services. D) the government will not accept cash in payment of taxes.
Refer to Figure 6.4. What area represents the decrease in consumer surplus when the price of computers increases from $1,000 to $1,500?
A. b
B. b + e
C. b + c
D. a + b
The short-run market supply in a perfectly competitive market is the horizontal summation of the firms' marginal cost curves when
A. increases in industry output do not affect input prices. B. increases in industry output lead to increases in market price. C. increases in industry output do not affect market price. D. increases in industry output lead to increases in input prices.