At the equilibrium level of real gross domestic product (GDP), unplanned inventory adjustment equals _____

Income equality has

A) decreased in the United States as manufacturing has increased. B) narrowed within countries but increased across countries. C) increased within countries but has narrowed across countries. D) not changed in the advanced economies over the past 50 years. E) increased in developing economies as manufacturing has decreased.

In a market where the equilibrium price is $7, any price higher than $7 would cause

a. a balanced demand and supply b. an excess supply c. an excess demand d. none of the above