Which of the following about inventory changes and GDP is true?
What will be an ideal response?
Inventory investment adds to GDP because it represents goods produced during the current period.
Economics
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The unit-of-account function of money means that money is used
A) as a consistent means of measuring the value of things. B) as the common denominator of future payments. C) to pay for goods and services. D) to accumulate purchasing power.
Economics
The scientific method uses models to ___________
A. clarify normative disagreements B. avoid the need to study real questions C. replicate all the features of the real world D. focus on those features of reality assumed relevant for understanding a cause and effect relationship
Economics