Unformatted text preview: growth is lower in the poorer country. E) difference in their living standards will not change over time. 23) Over the long term, by far the most potent force for raising living standards is 23) A) increasing the money supply. B) reducing inefficiencies. C) economic growth. D) redistributing income. E) appropriate fiscal policies. 24) For a nation to achieve a more rapid rate of economic growth, its citizens must be willing tc 24) A) decrease interest rates. B) redistribute income. C) pay more taxes. D) sacrifice some present consumption. E) increase their demand for goods and services. 25) The benefits of economic growth include 25) A) decreased current saving and increased current consumption." B) increased nominal GDP and constant real GDP. C) ability to reduce inequality. D) decreased productive capacity. E) increased future interest rates....
View Full Document
- Summer '09
- Inflation, gross domestic product, richer country