Inventories are goods that can be considered as "purchased" by
a. the firms that produce them.
b. the consumers that ultimately buy them.
c. the government since they are tax deductible.
d. no one since they are not counted as part of GDP.
a
Economics
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The sustainable flow of purchasing power available to an individual is equal to _____
a. the Fisher definition of income. b. the Haig-Simons definition of income c. consumption d. investment
Economics
If an increase in income results in a decrease in the quantity demanded of a good, then for that good, the
a. cross-price elasticity of demand is negative. b. price elasticity of demand is elastic. c. income elasticity of demand is negative. d. income elasticity of demand is positive.
Economics