In Figure 1 above if the economy were at Y1 then we would expect there to be:
A. no change in inventories.
B. an increase in inventories.
C. a reduction in inventories.
D. an increase in consumption spending.
Answer: C
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If there is both a decrease in immigration and an increase in workers' non-wage incomes, a. the supply of labor will increase
b. the supply of labor will decrease. c. the supply of labor will remain unchanged. d. the effect on the supply of labor will be indeterminate.
Borrowers:
A. gain from inflation, as the value of their debt decreases. B. lose with inflation, as the value of their debt decreases. C. gain from inflation, as the value of their debt increases. D. lose with inflation, as the value of their debt increases.
When a player in a game adopts a strategy which always yields the highest benefit regardless of what the other player does, that player is using a(n)
A. dominant strategy. B. aggressive strategy. C. opportunistic strategy. D. tit-for-tat strategy.
Ranchers can raise either cattle or sheep on their land. Which of the following would cause the supply of sheep to increase?
A) an increase in the price of sheep B) a decrease in the price of cattle C) an increase in the demand for cattle D) an increase in the price of sheep feed