The change in business inventories is a component of investment.
Answer the following statement true (T) or false (F)
True
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Gross Domestic Product in 2017 is more than five times larger than it was in 1960 but it is important to note that
A. none of the growth represented additional output of goods and services. B. this measurement of output fails to account for any of the effects of inflation. C. the population also grew substantially over the same time period. D. available graphs of output are unable to display such growth.
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Explain the four assumptions on which the theory of consumer choice is based. Select one of these assumptions and explain what would happen if this assumption did not hold true
What will be an ideal response?
What triggers exit in a competitive market? Describe the process that ends further exit
What will be an ideal response?