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Productivity Increases, Brought About by Increased Education and Training, May

question 56

True/False

Productivity increases, brought about by increased education and training, may shift the aggregate supply curve outward.


Definitions:

Compounded Monthly

Interest on a deposit or loan is calculated each month and added to the principal, increasing the amount on which future interest is computed.

Mortgage Loan

A loan used to purchase a real estate property, secured by the property itself.

RRSP

A Registered Retirement Savings Plan, which is a retirement savings and investing vehicle for employees and the self-employed in Canada.

Compounded Monthly

Describes the process where interest is calculated and added to the principal amount of an investment or loan on a monthly basis.

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