Countries that have experienced sustained increases in their standard of living have achieved them because of
A) higher rates of saving and investment.
B) higher rates of population growth.
C) sustained technological change.
D) All of the above are correct.
C
You might also like to view...
Macroeconomics
A) studies the behavior of the economy as a whole. B) involves the interaction between different countries in specific markets. C) studies the behavior of individual consumers, firms and markets. D) studies how computer automation has changed economics.
A decrease in taxes
a. increases GDP as much as a decrease in government purchases b. increases GDP less than an equal increase in government purchases c. decreases GDP more than an equal decrease in government purchases d. changes GDP but in an unpredictable way because some people consume more than others and others save more than some e. increases consumption but has no effect on GDP