If aggregate planned expenditure equals GDP, then
A) firms' inventories exceed planned inventories.
B) firms' inventories equal planned inventories.
C) firms' inventories are less than planned inventories.
D) firms' actual investment has no relationship to their planned investment.
E) firms do not have any inventories.
B
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All of the following products are likely to have significant network externalities except
A) cat food. B) cell phones. C) Twitter. D) popular board games.
The estimated price elasticities of demand for the products listed in the table as "Product A" are from Table 7-7 in the text. Indicate whether the products listed as "Product B" will have a more elastic or less elastic demand than the corresponding
Product A. Product A Estimated Elasticity for Product A Product B Is Estimated Elasticity for Product B More Elastic or Less Elastic than for Product A? Beer -0.29 Samuel Adams Boston Lager Chicken -0.37 Organically raised chicken Cocaine -0.28 Illegal narcotics Cigarettes -0.25 Marlboro Lights Restaurant meals -0.67 Denny's Grand Slam breakfast What will be an ideal response?