Asked by Benjamin Cohen on May 02, 2024
Verified
A nation's saving rate is not a primary determinant of its long-run economic prosperity.
Saving Rate
The proportion of income that is not spent on consumption but rather saved or invested.
Long-Run Economic Prosperity
A state of economic health in a society, characterized by sustainability, growth, and a high standard of living over a long period.
- Assess the link between state borrowing, fiscal strategies, and economic success.
Verified Answer
ZK
Zybrea KnightMay 08, 2024
Final Answer :
False
Explanation :
A nation's saving rate is a primary determinant of its long-run economic prosperity because it affects the amount of capital available for investment, which in turn influences productivity, economic growth, and living standards.
Learning Objectives
- Assess the link between state borrowing, fiscal strategies, and economic success.