Suppose that inventories were $80 billion in 2012 and $70 billion in 2013. In 2013, national income accountants would ________.
A. subtract $75 billion (= $150/2) from other elements of investment in calculating total investment
B. add $10 billion to other elements of investment in calculating total investment
C. add $75 billion (= $150/2) to other elements of investment in calculating total investment
D. subtract $10 billion from other elements of investment in calculating total investment
Answer: D
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Whenever the supply of a product decreases and the demand for the product increases,
a. the quantity exchanged in the market will increase. b. equilibrium price will rise. c. the quantity exchanged in the market will decrease. d. equilibrium price will fall.
How much is autonomous consumption when disposable income is $800 billion?
Which of the following can cause a leftward shift in the aggregate supply curve?
A. Lower marginal tax rates. B. A major natural disaster such as hurricane or earthquake. C. A bumper agricultural crop. D. Trade liberalization.
Which question is an illustration of a microeconomic question?
a. Is the quantity of wine purchased in one year dependent upon the price of wine? b. Is the purchasing power of the dollar higher or lower today than it was in 2000? c. Does government spending influence the total level of employment in the economy? d. Is capitalism superior to socialism?