Question

2nd PART OF MY QUESTION.

Economic growth:

4) Based on information from the World Bank, in 2016, GDP per capita was $57,467 in the United States and $59,977 in Iceland – very similar values (and high values compared to many countries). But, the annual rate of GDP growth averages 0.9% in the United States and 6.1% in Iceland.

Would you predict the United States or Iceland to have a more rapid increase in the standard of living in the long run? _________________ Discuss what evidence/theory from Chapter 11 you are using to support this prediction.

5) Based on information from a variety of sources, out of all countries –

Saudi Arabia ranks 26th in healthcare while the United States ranks 31st

Saudi Arabia ranks 95th in the lack of civil unrest while the United States ranks 97th

Saudi Arabia ranks behind the United States in terms of education

Saudi Arabia has investment of 30.75% of GDP while the United States is 19.754%

All of this suggests that the standards of living in the United States and Saudi Arabia are very similar - using this, answer the question below.

Suppose a country with a low standard of living asks for your advice on whether it should try to emulate Saudi Arabia or the United States in pursuing its goal of increasing its standard of living. What would you advise?

GOD BLESS WHOEVER HELPED ME ON THIS, HOW DO I PAY YOUR KINDNESS?

Answer 1