Refer to the diagram for a private closed economy. Unplanned changes in inventories will be zero:
A. only at the $300 level of GDP.
B. only at the $200 level of GDP.
C. at all levels of GDP.
D. only at the $400 level of GDP.
A. only at the $300 level of GDP.
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Federal government spending as a percentage of GDP was the highest since 1960 during: a. the Great Depression
b. the aftermath of the oil crisis in the Gulf nations. c. World War II. d. the aftermath of the Great Recession.
(Consider This) Newspaper dispensing devices seemingly "trust" people to take only a single paper, but the devices actually rely on the law of:
A. supply. B. increasing opportunity costs. C. demand. D. diminishing marginal utility.
The exchange rate between currencies of different countries is controlled primarily by ________ in currency markets
A) the outsourcing agreements B) supply and demand C) diplomatic relations D) tariff rates
The "store of value" function of money means it is the:
a. Asset individuals get for goods and services and then use later to purchase other goods and services. b. Barter value of a product for which a nation has a comparative advantage. c. The unit in terms of which people write contracts. d. Asset people can use to accumulate wealth. e. Unit in terms of which everything is valued and the basis for establishing relative prices between goods and services.