If Prices Are Fixed, When Aggregate Planned Expenditure Exceeds Real

question 344

Multiple Choice

If prices are fixed, when aggregate planned expenditure exceeds real GDP, then

• A) inventories decrease, signaling firms to increase production and increase real GDP.
• B) inventories increase, signaling firms to decrease production and decrease real GDP.
• C) profits fall, signaling firms to decrease production and decrease real GDP.
• D) None of the above answers are correct.

Calculate self-employment tax based on net earnings from self-employment.

Understand the various types of itemized deductions available on Schedule A.

Recognize the limitations and qualifications for medical expenses deductions.

Identify the rules associated with deducting mortgage and investment interest.

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