The achievement of full employment is a sufficient condition for the achievement of economic growth. Evaluate
Please provide the best answer for the statement.
Full employment is not a sufficient condition for economic growth. Underdeveloped, no-growth economies may have full employment in the sense that everyone is working at providing a subsistence level of living, but this does not lead to economic growth. Also important here is the allocation factor. Not only is full employment of resources required, but resources must also be employed efficiently so they produce maximum levels of goods and services.
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John deposits $800 at an annual interest rate of 6%. The total amount in John's account after one year will be:
A) $822. B) $848. C) $864. D) $950.
Holding other things constant, a depreciation of the US Dollar to the Kenyan Shilling might cause the demand for Shilling to _____________ and the supply for Shilling to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease
Any commonly accepted good that acts as a medium of exchange, a measure of value, and a store of value is known as
a. money b. currency c. acquisitive d. fiat e. M1
The term opportunity cost refers to
A. The minimum price that a producer will accept for a product. B. The most a consumer is willing to exchange to get an item. C. The slope of the demand line for a consumer or slope of the supply line for the producer. D. All of the choices are correct.