Which one of the following is TRUE?
A. Investments in secondary education produce gains in the form of economic growth.
B. New growth theory suggests that there is no connection between the level of education in a country and its rate of economic growth.
C. Secondary education does not boost economic growth in developing nations, because so much of the workforce remains in agriculture.
D. New growth theory suggests that education benefits only those people who receive it, and not the population as a whole.
Answer: A
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Use the graph below to explain the relationship between investment and the multiplier. Increases in investment are in $20 billion shifts. The slope of the aggregate expenditure curve is 0.75.
