When a nation is in the early stages of economic development, it is wise for that nation to invest its money in       

64. In the above graph, we can see that the Great Depression caused a 

Unemployment that fluctuates with the business cycle, increasing during contractions and decreasing during expansions

Cash transfers for those who lose their jobs and actively seek employment

This early American argued that nations must temporarily close themselves to outside trade in order to develop their own industries, also known as the “infant-industry argument”

Calculating GDP by adding up spending on all final goods and services produced in the nation during a year           

In Asia, the country which set the example of how rapid economic development could take place if careful planning and resource allocation occurred (during the last half of the 20thcentury) was

Macroeconomic policy that focuses on shifting the aggregate demand curve as a way of promoting price stability

  62. In the above graph, a shift of the Per-Worker Production Function from PF to PF’ is most likely the result of

Society’s understanding of the best ways to produce goods and services