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Consider a nation in which the volume of goods and services is growing by 5% per year. What is the likely impact of this high
Consider a nation in which the volume of goods and services is growing by 5% per year. What is the likely impact of this high rate of growth on the power an influence of its government relative to other countries experiencing slower growth. How will this 5% growth rate likely affect the nation's living standard? Will the standard of living grow by 5% per year, given population growth. Why or why not?
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