If total planned expenditure is less than current output (E<Y),
the inventory-to-sales ratio will start
If total planned expenditure exceeds current output (E>Y), then
the inventory-to-sales ratio wi
Disposable income is
the income that households have after they have
paid their taxes.
Suppose that during the fourth quarter of 2008 real GDP was
12,884 billion in 2005 dollars, while during the first quarter of
2009 it was only 12,663 bi
In the rules of thumb for identifying a recession, the rule to
determine if the amplitude and depth criteria are satisfied is
Real GDP declines for two consecutive quarters and the
index of industrial production declines for six consecutiv
1. According to the business-cycle approach to analyzing business cycles
the economy can be in one of two states: an expansion or a recession.
2. Which of the following is not a final good?
flour purchased by a b