Macroeconomics

Assignment: Standards of Living

How do nations improve?

In thinking about how nations around the world should pursue the goal of raising their standard of living, economists find it useful to divide those nations into three groups.

• First, provide a brief (one paragraph) overview of this week's material.
• Identify and briefly describe each group, and include examples of nations that would be classified within each particular group.
• Using their group designation, identify the problem relating to growth policies associated with high-income countries and discuss the focus of main public policies targeted at addressing this problem. Try addressing then the same for the other classifications.

Your final product will be a paper that:

• Addresses each of the topic/questions above in total.
• Is APA formatted.
• The body is to be 2 pages minimum.

The requirements for your assignment are:

1. Answer each question fully
2. Define the overall subject of each question.
3. Cite at least three resources from this week's materials.