If Planned Aggregate Expenditure Is Less Than Total Production

question 28

Multiple Choice

If planned aggregate expenditure is less than total production

• A)actual inventories will equal planned inventories.
• B)firms will experience an unplanned increase in inventories.
• C)GDP will increase.
• D)the economy is in equilibrium.

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Fundamental Attribution Error

The tendency to overemphasize internal characteristics and underestimate external factors when explaining others' behaviors.

Internal Characteristics

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A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed.