Campaign speeches normally include normative economic statements
Indicate whether the statement is true or false
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In a small economy in 2016, aggregate expenditure was $800 million while GDP that year was $850 million. Which of the following can explain the difference between aggregate expenditure and GDP that year?
A) Aggregate expenditure is always less than GDP in developed countries. B) Firm investment in inventories was greater than anticipated in 2016. C) Aggregate expenditure is always less than GDP in developing countries. D) Firm investment in inventories was less than anticipated in 2016.
If the actual capital-labor ratio is below the steady-state capital labor ratio, growth from convergence will be ________, and the economy will grow ________ than it will along a balanced growth path
A) negative; slower B) negative; faster C) positive; slower D) positive; faster
An exchange rate:
A. is the ratio of the dollar volume of a nation's exports to the dollar volume of its imports. B. measures the interest rate ratios of any two nations. C. is the amount that one nation must export to obtain $1 worth of imports. D. is the price that the currencies of any two nations exchange for one another.
Use the following graph for a competitive market to answer the question below: 
A price ceiling of $10 per unit will result in a
A. surplus of 200 units. B. shortage of 200 units. C. surplus of 250 units. D. shortage of 250 units.