A _____ is a function that takes on a defined value for every point in the sample space

If a country has a lower opportunity cost than its potential trading partner, the country should decide to be self-sufficient

a. True b. False Indicate whether the statement is true or false

The expenditure line in the aggregate expenditures diagram represents the

A. relationship between expenditure and output. B. equilibrium condition that Y = AE. C. equilibrium condition that Y = Y*. D. relationship between consumption and disposable income.