How higher saving leads to higher standard of living

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1. Explain how higher saving leads to a higher standard of living. What might deter a policymaker trying to raise the rate of saving?

2. What is government budget deficit? How does it affect interest rate, investment and economic growth?

3. What is the future worth (in Year 10) of $23,000 deposited at the end of Year 3 plus $28,000 deposited at the end of Year 5, and $20,000 deposited at the end of Year 8 at an interest rate of 5% per year?

Reference no: EM131378509

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