State whether each of the following is a stock or a flow. a. The gross domestic product. square c) b. National saving. square c) c. The value of the U.S. housing inventory on January 1, 2020. ((Click to select) C) d. The amount of U.S. currency in circulation as of this morning. square e. The government budget deficit. square f. The quantity of outstanding government debt on January 1, 2020. square

To determine whether each item is a stock or a flow, we need to understand the difference between the two:<br /><br />- A **stock** is a quantity measured at a specific point in time. It represents a snapshot of a particular variable.<br />- A **flow** is a quantity measured over a period of time. It represents a rate of change or activity.<br /><br />Now, let's classify each item:<br /><br />a. The gross domestic product (GDP).<br /> - GDP is a flow because it measures the total economic output over a specific period of time (e.g., quarterly or annually).<br /><br />b. National saving.<br /> - National saving is a flow because it represents the total amount saved by a nation over a period of time.<br /><br />c. The value of the U.S. housing inventory on January 1, 2020.<br /> - This is a stock because it measures the value of the housing inventory at a specific point in time.<br /><br />d. The amount of U.S. currency in circulation as of this morning.<br /> - This is a stock because it measures the amount of currency at a specific point in time.<br /><br />e. The government budget deficit.<br /> - The budget deficit is a flow because it measures the difference between government revenues and expenditures over a period of time.<br /><br />f. The quantity of outstanding government debt on January 1, 2020.<br /> - This is a stock because it measures the total amount of debt at a specific point in time.<br /><br />So, the answers are:<br />a. Flow<br />b. Flow<br />c. Stock<br />d. Stock<br />e. Flow<br />f. Stock