1.Explain why economists focus on GDP, inflation, and unemployment when assessing the overall health of

1.     Explain why economists focus on GDP, inflation, and unemployment when assessing the overall health of

an economy.

2.     What historic period initiated "modern economic growth" and what has the impact been on our lives today?

3.      What do the actions of Saving and Investment represent in an economy? What is their impact on a society choosing between present and future consumption? 

4.   Explain the law of diminishing marginal utility how it explains why the demand curve is downward sloping to the right.