Use the following diagram to answer the next question.
Assume the economy is initially at the full employment level of real GDP. An increase in consumption will ________.
A. reduce the full employment level of real GDP
B. reduce the unemployment rate
C. reduce output in the economy
D. reduce the price level
Answer: B
Economics
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Which of the following is NOT an investment in human capital?
A) A business student takes a seminar in using a laptop computer. B) A student purchases a laptop computer. C) A computer science student learns how to repair a laptop computer. D) A computer science student takes a course on programming a laptop computer.
Economics
Why is economic development a contentious subject? Use one of the controversies mentioned in the chapter to illustrate why people may not agree on the answers
What will be an ideal response?
Economics