"Few If Any Economists Anticipated the Extent of the Inventory

question 45

Multiple Choice

"Few if any economists anticipated the extent of the inventory adjustment... Production cutbacks have been much greater than expected. Those cuts have weakened the industrial sector considerably." As a result of these changes, the U.S. government lowered its estimate of fourth-quarter growth in real GDP. www.businessweek.com 3/12/2007
The article suggests that

• A) planned expenditures exceeded real GDP in 2006.
• B) real GDP exceeded planned expenditures in 2006.
• C) the AE curve shifted upward in 2007.
• D) the AD curve shifted rightward in 2007.

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Definitions:

Population Needs

The collective requirements for health care, education, social services, and infrastructure in a community.

Individual Needs

The specific requirements or adjustments necessary for a person to achieve optimal physical, psychological, or social well-being.

Patient Autonomy

The right of patients to make informed decisions about their own healthcare, including the right to accept or refuse treatment.

Acute Care

Medical services provided for short-term treatment of a severe injury or episode of illness, an urgent medical condition, or during recovery from surgery.