In a simple, private economy, suppose that the MPC is 0.8 and investment rises by $20 million. At the new equilibrium, how much will saving have increased?

The term human capital refers to

A) labor resources used to make capital equipment. B) buildings and machinery. C) people's knowledge and skill. D) entrepreneurship and risk-taking.

When the total value of final goods and services is calculated using current prices, the resulting measure is referred to as

A) real GDP. B) the GDP deflator. C) nominal GDP. D) the index of leading indicators.