QUESTION TIME!!!!!!!

QUESTION 1Investment in human capital is likely to lead to:

a) More discrimination in the labour market

b) An increase in the geographical mobility of labour

c) An increase in Labour Productivity

d) An increase in the amount of capital used in the production process

QUESTION 2Long term economic growth can be defined as

a) An upturn in the economic cycle

b) An increase in the economy’s productive potential

c) The closing of a negative output gap

d) More efficient use of resources

QUESTION 3Which on of the following is most likely to cause the PPF to move inwards?

a) The resources are used less efficiently

b) A rise in cyclical unemployment

c) Trend growth falling below zero

d) A downturn in the economic cycle

QUESTION 4One of the key factors in determining the long term economic cycle is changes in:

a) The state of technology

b) Energy prices

c) Capacity utilisation

d) Aggregate demand

QUESTION 5What is economic development??

QUESTION 6What are 2 aspects of economic development?