In Which Case Can We Be Sure That Real GDP

question 288

Multiple Choice

In which case can we be sure that real GDP rises in the short run?

• A)foreign economies expand and the money supply increases
• B)foreign economies expand and the money supply decreases
• C)foreign economies contract and the money supply decreases
• D)None of the above are correct.

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Definitions:

Inventory Turnover

The relationship between the volume of goods sold and inventory, computed by dividing the cost of goods sold by the average inventory.

Purchase Order

An official document issued by a buyer committing to pay the seller for the supply of specific products or services at agreed prices.

Approved Vendor

A supplier that has been vetted and authorized by a company to provide goods or services.

Receiving Report

A document that records the details of goods received by a company, ensuring the quantities and quality match the purchase order.