What does the expansion path represent?
What will be an ideal response?
The expansion path represents the cost-minimizing choice of inputs, given constant input prices, for different levels of output.
Economics
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Refer to the table above. What will be the value of the gross domestic product of the country if the country runs a trade surplus of $30,000 next year, everything else remaining unchanged?
A) $378,000 B) $372,000 C) $407,000 D) $524,000
Economics
At the current interest rate, suppose the supply of money is less than the demand for money. Given this information, we know that
A) the price of bonds will tend increase. B) the price of bonds will tend to fall. C) production equals demand. D) the goods market is also in equilibrium. E) the supply of bonds also equals the demand for bonds.
Economics