Asked by Geraldine Lafosse on May 03, 2024
Verified
Other things the same, the higher the rate of saving and investment in a country, the higher will be the standard of living in the future.
Investment
The allocation of resources, such as capital, to generate income or profit.
Standard of Living
A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area.
- Understand the correlation between saving, investment, and the standard of living.
Verified Answer
ET
Erica TorresMay 07, 2024
Final Answer :
True
Explanation :
Higher rates of saving and investment typically lead to more capital accumulation, which can increase productivity and, consequently, raise the standard of living over time.
Learning Objectives
- Understand the correlation between saving, investment, and the standard of living.
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