Bill Orders 1,000 Nails from Super Hardware,Inc

question 17

Multiple Choice

Bill orders 1,000 nails from Super Hardware,Inc.Super Hardware keeps its nails in packages of 100,000.Bill and the agent for Super Hardware both sign the contract for the sale of the nails on Monday.The agent separates 1,000 nails on Wednesday.The agent delivers the nails to Bill on Thursday morning,and Bill pays for the nails on Friday.Identification of the nails took place on

• A)Monday.
• B)Wednesday.
• C)Thursday.
• D)Friday.

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period of time, usually measured by the rise in GDP.

Federal Budget Deficit

A situation where the federal government's expenditures exceed its revenues within a given fiscal year.

Paradox of Thrift

If everyone tries to save more, they will all end up saving less.

Consumption

The use of goods and services by households, which is a key component in calculating a country's Gross Domestic Product (GDP).