For a given level of technology, a higher rate of economic growth can probably be achieved only if a country's citizens are prepared to

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Quizplus · Accepted Answer

To achieve a higher rate of economic growth, citizens must be willing to sacrifice some present consumption, meaning they must be willing to save and invest more. This will lead to greater capital accumulation, which in turn will boost productivity and lead to sustained economic growth in the long run. Sacrificing present consumption requires individuals to delay gratification and forgo immediate consumption in exchange for greater rewards in the future.

For a Given Level of Technology, a Higher Rate of Economic