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Changes in inventories go a long way, for instance, toward explaining why first quarter real GNP was ahead of a year earlier by a meagre
"Changes in inventories go a long way, for instance, toward explaining why first
quarter real GNP was ahead of a year earlier by a meagre 1.7 percent." What
must have been happening to inventories during the first quarter?
a) rising because of unexpectedlyhigh output
b) falling because of unexpectedlylow output
c) rising because of unexpectedlylow aggregate demand
d) falling because of unexpectedlyhigh aggregate demand
Should the correct one be a ? It seems to me that first
quarter real GNP is higher than before
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