Quiz_230 - 23 $750,000 andoverthatyear,$750,000.Thisimpliesthat A B

Quiz_230 - 23 $750,000...

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23) Firms in a small economy anticipated that inventories would grow over the past year by $750,000,and over that year, inventories grew by exactly $750,000. This implies thatA) there was an unplanned increase in inventories that year.B) there was an unplanned decrease in inventories that year.C) aggregate expenditure was greater than GDP that year.D) aggregate expenditure and GDP were equal that year.Answer: D23)Diff: 2Page Ref: 752/378Topic: The Aggregate Expenditure ModelLearning Outcome: Macro 8: Investigate the relationship between income and expendituresAACSB: Analytic Skills24) If aggregate expenditure is greater than GDP, how will the economy reach macroeconomicequilibrium?24)Diff: 2Page Ref: 752/378Topic: Macroeconomic EquilibriumLearning Outcome: Macro 8: Investigate the relationship between income and expendituresAACSB: Reflective Thinking25) If firms find that consumers are purchasing less than expected, which of the following would youexpect?25)Diff: 2Page Ref: 752/378Topic: Macroeconomic EquilibriumLearning Outcome: Macro 8: Investigate the relationship between income and expendituresAACSB: Reflective Thinking
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