If firms sell exactly what they expected to sell, all of the following will be true except
A) aggregate expenditure will be greater than GDP.
B) there is no unplanned change in inventories.
C) aggregate expenditure will be equal to GDP.
D) inventories will not change, and GDP and employment will remain stable.
Question 2
The marketing of the first ballpoint pen by Milton Reynolds showed
A) that being the first firm to market a new product can result in a natural monopoly.
B) that first-mover advantages can make it more difficult for new firms to enter a market and compete against the first mover.
C) how important it is to receive patent protection for a new product.
D) that being the first firm to market a product may not lead to a long-lived advantage over later entrants into the market.
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The expected value for a binomial probability distribution is _____.