In the aggregate expenditures model, if aggregate expenditures (AE) are less than GDP, then:
a. inventory is depleted.
b. inventory is accumulated.
c. inventory is unchanged.
d. employment increases.
b
Economics
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The short-run aggregate supply curve is drawn with: a. the price level on the vertical axis and real GDP on the horizontal axis
b. the price level on the vertical axis and nominal GDP on the horizontal axis. c. nominal GDP on the vertical axis and real GDP on the horizontal axis. d. real GDP on the horizontal axis and the rate of unemployment on the vertical axis.
Economics
During which of the following periods did the U.S. economy have mostly small trade surpluses?
a. From the 1950s into the 1960s b. From the 1960s into the 1970s c. From the 1960s into the 1980s d. From the 1970s into the 1980s
Economics