When the economy is at its equilibrium GDP level, all of the following will occur, except:
A. Aggregate expenditures = GDP
B. Inventories will be zero
C. Saving equals planned investment
D. There are no unplanned changes in inventories
B. Inventories will be zero
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Many autoworkers are unionized. Which of the following methods can help them achieve higher wages? I. Training that increases union members' marginal product II. A publicity campaign promoting purchase of union-made automobile
A) I only B) II only C) I and II D) Neither I nor II
Which of the following is true of the gross domestic product (GDP) of a nation? a. It can be measured by the stock of consumer goods in a nation at a particular point in time
b. It can be measured by the stock of capital goods in a nation at a particular point in time. c. It can be measured either by calculating the total spending on production or the total income from that production. d. It is the sum of total spending on production and total income from that production. e. It can be measured from the stock of wealth in the nation.