if-a-countrys-gdp-growth-rate-increases-from-2-to-4-what-is-the-likely-impact-on

Question

If a country's GDP growth rate increases from 2% to 4%, what is the likely impact on the standard of living over time?

Accepted Answer

The standard of living is likely to improve more quickly.

Answer

The standard of living will improve at the same rate as before.

Answer

The standard of living will decline.

Answer

The standard of living will remain unchanged.