If a firm's inventory decreases, the gross domestic product (GDP) also decreases
a. True
b. False
Indicate whether the statement is true or false
True
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In the Modern Keynesian Model the short run aggregate supply curve slopes upward. How could one explain the shape of the upward sloping? short-run aggregate supply curve by only focusing on the capital? input?
If the quantity demanded changes by an infinitely large amount for a given change in price, then demand is
A) perfectly inelastic. B) perfectly elastic. C) elastic. D) inelastic.
The Fed came about in 1913 due to Congress's desire to have a centralized bank with national control of banking
Indicate whether the statement is true or false
Economist Arthur Laffer made the argument that tax rates in the United States were so high that reducing the rates would increase tax revenue
a. True b. False Indicate whether the statement is true or false