If Aggregate Output Is Above Its Equilibrium Level ________

question 53

Multiple Choice

If aggregate output is above its equilibrium level ________.

• A)there is an excess supply of goods
• B)actual output is below planned expenditure
• C)firms will tend to replenish their low inventories driving output up toward equilibrium
• D)all of the above
• E)none of the above

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Definitions:

Goodwill

An intangible asset arising from the acquisition of one entity by another, representing the excess of purchase price over the fair market value of identifiable net assets.

Goodwill Impairment

A decrease in the value of the goodwill asset when the fair value of a company's goodwill becomes less than its recorded cost on the balance sheet.

Public Order

Laws, regulations, or practices aimed at preserving peace and preventing behaviors that disrupt society's tranquility and safety.

Economic

Relating to the economy, or the comprehensive system involving the production, distribution, and consumption of goods and services.