If Aggregate Planned Expenditure Exceeds Real GDP, Then

question 60

Multiple Choice

If aggregate planned expenditure exceeds real GDP, then

• A)aggregate planned expenditure must decrease to restore the equilibrium.
• B)unplanned inventory changes are negative.
• C)real GDP will decrease.
• D)unplanned inventory changes are positive.
• E)planned inventory changes must be negative.

Understand the basic functions of management including planning, organising, leading, and controlling.

Identify and describe the primary roles that managers play in organizations according to Henry Mintzberg.

Recognise the importance and application of human, technical, and conceptual skills in management.

Explain the significance of developing strong interpersonal relationships within the workplace for effective management.

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Definitions:

Queuing System

A queuing system is a model used to analyze and manage the process by which customers wait for service or goods, focusing on efficiency and fairness.

Opportunity Cost

The value of the next best alternative forgone as the result of making a decision.

True Cost

The comprehensive cost of a good or service, including all direct and indirect expenditures as well as environmental and social impacts.

Price Floors

Price Floors are legally established minimum prices for goods or services, below which they cannot be sold, usually set to protect producers.