« previous next »

Author Question: Which of the following situations leads to an unplanned increase in inventories of 2.0 trillion? ... (Read 85 times)

soccerdreamer_17

  • Hero Member
  • *****
  • Posts: 552
on: Jun 29, 2018
Which of the following situations leads to an unplanned increase in inventories of 2.0 trillion?
 
  A) real GDP = 5.0 trillion and aggregate planned expenditures = 5.0 trillion
  B) real GDP = 6.0 trillion and aggregate planned expenditures = 4.0 trillion
  C) real GDP = 8.0 trillion and aggregate planned expenditures = 5.0 trillion
  D) real GDP = 5.0 trillion and aggregate planned expenditures = 7.0 trillion
  E) More information is needed about planned investment and actual investment.

Question 2

If country A has a higher level of real GDP per person than country B, then people in Country A must enjoy a higher standard of living than people in Country B. Is this statement true or false and explain your answer.
 
  What will be an ideal response?


joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The statement is false. Factors other than real GDP per person affect the standard of living. For instance, factors such as household production, underground production, leisure time, and environmental quality all affect the standard of living and all are omitted from real GDP per person. In addition, the standard of living is influenced by health and life expectancy as well as by the nation's political freedom and social justice, none of which is measured by real GDP per person. Although real GDP per person is an important factor in determining a country's standard of living, it is not the only factor.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

soccerdreamer_17

  • Hero Member
  • *****
  • Posts: 552
Reply #2 on: Jun 29, 2018
Thank you :)


joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
When using forearm pressure on the top of the shoulder, push with your back foot to increase your ... When using forearm pressure on the top of the shoulder, push with your back foot to increase your ...
Connect the leads of the meter to contacts 30 and 87 of the relay socket. The reading of 4.7 ... Connect the leads of the meter to contacts 30 and 87 of the relay socket. The reading of 4.7 ...
Greenhouse gases increase in the stratosphere Greenhouse gases increase in the stratosphere
Effect of an Increase in R&D in the Follower Country on the Steady State Effect of an Increase in R&D in the Follower Country on the Steady State
Increase in Surface Area by Mechanical Weathering Increase in Surface Area by Mechanical Weathering
Video: Role of ATP in muscle movement

For a complete list of videos, visit our video library