Unformatted text preview: the recent Asian crisis, the United States has the highest per capita real GDP in the world. This is a common measure of the standard of living. 4. What policies can be adopted to promote economic growth? Policies that improve the quality of education, increase the rate of savings and investment, and promote more research and development will promote economic growth. 5. What is so good about growth? Are there some downsides to it? Economic growth increases the affordability, availability, and quality of the goods and services in an economy. It allows people to have more things, more time, and more opportunities. As with everything, however, there are costs associated with increased development. Some sectors of the economy may lose out, traditional ways of living and working will be altered, there will be increased demands placed on the environment, and other problems will arise....
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- Fall '07