According to economist Paul Romer, economies that wish to ...

[darbym82]

According to economist Paul Romer, economies that wish to experience growth must
 
  A) invest most of their savings in national defense.
  B) invest in knowledge.
  C) drastically lower their standards of living.
  D) become command economies.

Question 2

Describe the major types of unemployment.
 
  What will be an ideal response?

[TDubDCFL]

Answer to Question 1

B

Answer to Question 2

Frictional unemployment is the continuous flow of people from job to job. Seasonal unemployment refers to changes in employment related to seasonal-type of work, such as work at summer resorts or winter ski lodges. Structural unemployment refers to unemployment of workers over lengthy intervals resulting from skill mismatches of prospective employees' abilities and skills with requirements of employers, and from fewer jobs being offered by employers constrained by government regulations and labor market policies. Cyclical unemployment has to do with those unemployed due to a downturn in business activity.

[darbym82]

Thanks for the timely response, appreciate it

[xiaomengxian]

Excellent