Suppose GDP is $4,000 billion and aggregate expenditure is $3,750 billion. Inventories will
a. increase by $250 billion
b. increase by $375 billion
c. increase by $400 billion
d. decrease by $250 billion
e. decrease by $375 billion
A
Economics
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Most corn produced in the United States is used for animal feed. The demand for corn is inelastic. These facts mean that
A) there are many substitutes for corn in feeding animals. B) there are few substitutes for corn in feeding animals. C) there are no substitutes for corn in feeding animals. D) animals are not buying the corn themselves, so we cannot learn anything from these facts.
Economics
During the antebellum period, the South exported more to England than it imported. This Southern trade surplus with England benefited whom?
(a) The South (b) The North (c) England (d) All of the above
Economics