During 2015, a country reports aggregate planned expenditures of $5 trillion and an actual real GDP of $4 trillion. During 2015,
A) inventories are less than planned.
B) inventories are greater than planned.
C) actual aggregate expenditures are greater than real GDP.
D) actual aggregate expenditures are less than real GDP.
E) inventories are unaffected.
A
Economics
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Which of the following countries had the highest rate of growth of output per capita between 1950 and 2011?
A) United States B) France C) Japan D) United Kingdom
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Answer the following questions true (T) or false (F)
1. The income effect results in consumers increasing the quantity of normal goods demanded when the price falls. 2. The demand curve for a Giffen good slopes upward. 3. The only Giffen goods that have been identified so far in the real world are luxury goods.
Economics