Asap

what would be the best way for a government to improve the standard of living in its country?

a

nationalize the major industries of the country

b

outlaw trade with other countries to domestic industries

c

invest in the education of children and adults in the country

d

invade a neighboring country to gain access to resources

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment.b. the allocation of resources between private markets and the public sector.c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t.d. differences in productivity.e. ones that think at the margin and respond to incentives and those that don’t.