Question

How a country’s standard of living depends on its saving and population growth rates?

Answer 1

Answer:

The standard of living equals the ratio of real GDP to population, giving real GDP per capita. Thus, the standard of living increases (decreases) when economic growth (i.e., the growth rate of real GDP) exceeds (falls below) the population growth rate.

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Answer 2

Answer:

The standard of living equals the ratio of real GDP to population, giving real GDP per ca-pita. Thus, the standard of living increases (decreases) when economic growth (i.e., the growth rate of real GDP) exceeds (falls below) the population growth rate.

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