How do economic growth rates affect a nation's standard of living?
What will be an ideal response?
The speed at which an economy grows determines the standard of living of its people. If an economy grows too slowly, then standards of living can decline. If a country is already poor, then slow growth can fail to raise standards of living of its citizens. This can result in people living in poverty, poor health, having poor nutrition, low life expectancy, high infant mortality, and an overall poor quality of life. On the other hand, more rapid rates of growth can improve standards of living. This can lift people out of poverty, raise life expectancy, improve health, eliminate hunger, and improve the general quality of life.
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Which of the following institutions is not eligible to borrow from the Federal Reserve at the discount rate?
A) Federal government B) Commercial banks C) Credit unions D) Mutual savings banks
Which of the following is likely to have the most price elastic demand?
a. lattés b. doctor's visits c. eggs d. natural gas
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.
When a monopolist charges a low price to drive out competition, then charges a high price, the monopolist is engaging in:
A. a trust agreement. B. a merger. C. duopoly pricing. D. predatory pricing.