Suppose equilibrium for an economy occurs when C + I + G + X = $14 trillion. If the real Gross Domestic Product (GDP) is $13 trillion, then unplanned inventories are
A) increasing, and real Gross Domestic Product (GDP) will contract.
B) increasing, and real Gross Domestic Product (GDP) will expand.
C) decreasing, and real Gross Domestic Product (GDP) will expand.
D) decreasing, and real Gross Domestic Product (GDP) will contract.
C
Economics
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The record of all transactions with foreign nations that involve the exchange of merchandise goods and services or unilateral gifts is called the: a. capital account
b. current account. c. balance of trade. d. balance of payments.
Economics
The balance of trade records information about: a. purchases of U.S. merchandise exports by foreigners
b. purchases of foreign financial assets by Americans. c. American purchases of foreign services while traveling abroad. d. errors and omissions.
Economics