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4. Based on information from the World Bank, in 2014, GDP per capita was $54,630 in the United States and $52,010 in Saudi Arabia very

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4. Based on information from the World Bank, in 2014, GDP per capita was $54,630 in the United States and $52,010 in Saudi Arabia very similar values (and high values compared to many countries). But, the rate of GDP growth averages 2.6% in the United States and 3.4% in Saudi Arabia. Would you predict the United States or Saudi Arabia 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

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