A curve that shows all the combinations of two inputs, such as labor and capital, that will produce the same level of output is called
A) a budget line. B) an isocost line
C) an isoquant. D) an optimal input combination curve.
C
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If the country of Deficitland is experiencing trade deficits, they are more likely to cut imports of
a. beef b. cocoa c. coffee d. capital goods e. soybeans
Figure 10.4 Federal Surplus or Deficit as a Percent of GDP
What will be an ideal response?
Pat pays $10,000 for a newly issued two-year government bond with a $10,000 face value and a 6 percent coupon rate. One year later, after receiving the first coupon payment, Pat sells the bond. If the current one-year interest rate on government bonds is 5 percent, then the price Pat receives is:
A. $500. B. greater than $10,000. C. less than $10,000. D. $10,000.
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.