Identify various factors that might change how much you consume (the amount of money you spend) and explain how these factors affect your spending (changes in disposable income and prices) How is the economy (as measured by the GDP) affected by a change in consumer spending? Explain why. Capital Deepening refers to an increase in additional human capital (skills and knowledge) or physical capital (plants and equipment) for each additional worker. This helps push the PPF Curve outward. We've seen an increase in the levels of education in U.S. workers since the 1960s and this trend continues today; you as a college student are a prime example of capital deepening! Explain how increasing your education level will affect the economy