Inventory investment refers to
A) the difference between production and sales in a given year.
B) fixed investment.
C) nonresidential investment.
D) the purchase by firms of new machines.
A
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If Fredonia has a closed economy, it ________ with other countries.
A. does not negotiate B. trades C. does not trade D. prevents it's citizens from traveling to other countries but trades
Long-run aggregate supply is
A) the possible combinations of real GDP and inputs after full adjustments have been made. B) the extraction of natural resources. C) the real production of goods and services after full adjustments have been made. D) all of the physical and human resources in the economy.
A mortgage interest deduction would be considered
a. tax evasion. b. a subsidy to the poor. c. a deduction that benefits all members of society equally. d. a tax loophole.
A Gini coefficient of 1 denotes:
A. perfect inequality of income distribution. B. zero income. C. perfect equality of income distribution. D. infinite income.