Refer to Table 1. At an output level of $1,200 billion, there is an unplanned inventory change of Group of answer choiceszero.positive $10 billion.negative $100 billion.positive $100 billion. Output Consumption(Income) Spending4004008007001,2001,0001,6001,3002.0001,600All Numbers are in $ BillionNetTaxes100100100100100Investment GovernmentSpendingSpending200100200100200100200100200100

In a closed economy, aggregate expenditure is the sum of consumption spending, investment spending,…

Answered: At an output level of $1,200 billion,…

At an output level of $1,200 billion, there is an unplanned inventory change of Group of answer choices zero. positive $10 billion. negative $100 billion. positive $100 billion.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 6SQP

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Concept explainers

Accounting and Economic Profit analysis

One comes across the concept of Profits in the context of business and in analyzing the results of business activity. Profits of a business can be accounting profits, and they can also be economic profits. So how does one understand the concept of accounting versus economic profits?

Question

Refer to Table 1. At an output level of $1,200 billion, there is an unplanned inventory change of

Group of answer choices

zero.

positive $10 billion.

negative $100 billion.

positive $100 billion.

Output Consumption
(Income) Spending
400
400
800
700
1,200
1,000
1,600
1,300
2.000
1,600
All Numbers are in $ Billion
Net
Taxes
100
100
100
100
100
Investment Government
Spending
Spending
200
100
200
100
200
100
200
100
200
100

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