A country reports that when real GDP is $13.0 trillion, aggregate planned expenditure is $14.0 trillion. When real GDP equals $13.0 trillion,
A) planned inventory changes by $1.0 trillion.
B) planned inventory changes by -$1.0 trillion.
C) both planned and unplanned inventory changes are -$1.0 trillion.
D) unplanned inventory changes by -$1.0 trillion.
E) unplanned inventory changes by $1.0 trillion.
D
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Ryan saved $50,000 last year in his bank account so that he could buy a car this year. In this case, money served the function of a ________
A) unit of account B) means of deferred payment C) store of value D) medium of exchange
What is the good or service is given the most weight in the CPI?
A) housing B) apparel C) recreation D) food and beverages E) transportation
If the interest rate rises, the present discounted value of a stream of payments owed in the future:
a. rises. b. stays constant. c. falls. d. may rise or fall depending on the shape of the stream.
The time period during which all factors of production can be varied is the
A. long run. B. short run. C. calendar year. D. production time.