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Author Question: Refer to the table above. What will be the value of the gross domestic product of the country if the ... (Read 73 times)

vicky

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on: Jun 30, 2018
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

Question 2

What are the factors that affect GDP according to the aggregate production function used by Solow?
 
  What will be an ideal response?


taylorsonier

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

The aggregate production function used by Solow expresses GDP as a function of three factors of production. These are:
a) physical capital.
b) total efficiency units of labor.
c) level of technology.


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