Refer to Figure 8A.1. When the economy reaches K, total saving is represented by point ________ and depreciation is represented by point ________

The difference between Capitalism and Socialism is that

a. Capitalism is concerned more about how to slice up the "pie" b. Socialism is concerned with making the "pie" as large as possible c. Capitalism is concerned with making the "pie" as large as possible d. Both a and B

Long-term growth in production can be explained by: a. an improvement in the quality of resources available. b. a gradual but consistent rise in the price level

c. a rapid and accelerating increase in the price level. d. a trade surplus that leads to the accumulation of gold. e. the peaks and troughs of economic fluctuations.