For a Private Closed Economy, an Unplanned Decline in Inventories

question 29

Multiple Choice

For a private closed economy, an unplanned decline in inventories suggests that:

• A)aggregate expenditures are less than the business sector expected them to be.
• B)planned investment is greater than saving.
• C)actual investment exceeds saving.
• D)planned investment is greater than consumption.

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Definitions:

Intelligence

The ability to acquire knowledge, think abstractly, and adapt to new situations effectively.

Howard Gardner

An American developmental psychologist known for his theory of multiple intelligences, which suggests that intelligence is multidimensional and not confined to a single general ability.

Multiple Intelligences

A theory proposed by Howard Gardner, suggesting that intelligence is not a single, fixed attribute but consists of various distinct types enabling individuals to excel in different domains.

Spatial Intelligence

The ability to visualize with the mind's eye, and manipulate shapes and figures in space.