Education makes people more receptive to new ideas and methods, which leads to economic development

According to UNESCO reporting, "Governments in North America and Western Europe invested the highest shares of national resources in education: 5.6 percent of GDP." As a result, we would expect ________, all else held constant. www.worldometer

info A) higher economic growth rates in these countries compared to other countries B) lower economic growth rates in the countries because fewer resources can be devoted to innovation C) lower research and development spending and lower economic growth unless the governments can raise taxes D) lower saving rates and slower economic growth

The equilibrium or market clearing price occurs at the point at which

A) quantity demanded equals quantity supplied. B) the supply curve intersects the horizontal axis. C) the demand curve intersects the vertical axis. D) there is a shortage of the desired good.