An advisory council meets to chart a financial course for their country. If they want to see economic growth in the future, what should they do?
a. Spend more money on wages now.
b. Produce more consumption goods.
c. Produce more capital goods.
d. Cut education spending.
c. Produce more capital goods.
Economics
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Patents encourage inventions because without a patent
A) other firms could enter the inventor's market by producing the same product. B) nobody would demand the inventor's product. C) the inventor would receive no tax breaks. D) all markets would be public franchises.
Economics
Consider the following data for a closed economy:
a. Y = $12 trillion b. C = $8 trillion c. I = $3 trillion d. TR = $2 trillion e. T = $3 trillion Use the data provided to calculate the level of private saving and the level of public saving and demonstrate their relationship to investment.
Economics