Most of the people would probably say that their standard of living is better than their parents or grandparents standard of living because they can afford more. I would say that our standard of living is better and worse. Maybe we do have a house, a car, almost everything we want, but all these means a lot of debt which means we have nothing until we pay them out. It is better because of the advancement of technology and medicine. Those changes occurred because we started to wish for more than we can afford to pay cash.
If Americans save money, the savings will be are mobilize by the banks. Banks provide loans to the business companies which use the money to expand their production by creating new jobs. This leads to faster growth in productivity. The benefit from the increased productivity is enjoyed by workers, entrepreneurs and families. The society is not getting a free lunch because when the people are saving money is a trade-off.
A: 40 lawns mowed, 0 washed cars.
B: 0 lawns mowed, 40 washed cars.
C: 20 lawns mowed, 20 washed cars.
D: 25 lawns mowed, 25 washed cars.
Larry is equally productive at both tasks. Moe is more productive at washing cars, while Curly is more productive at mowing lawns.
d) Allocation C is inefficient. More washed cars and mowed lawns can be produced by reallocating the time of the three individuals.
a. A family's decision about how much income to save is related to microeconomics.
b. The effect of government regulations on auto emissions is related to microeconomics.
c. The impact of higher saving on economic growth is related to macroeconomics.
d. A firm's decision about how many workers to hire is related to microeconomics.
e. The relationship between the inflation rate and