A value-added tax is a tax on consumption and not on personal income

The country of Kemper is on its aggregate production function at point W in the above figure. The government of Kemper passes a law that makes 4 years of college mandatory for all citizens. After all citizens have their education, the economy will

A) move to point such as Y. B) remain at point W. C) move to point such as X. D) move to point such as Z.

Real interest rates were negative during most of the

A) 1960s. B) 1970s. C) 1980s. D) 1990s.