If the historical growth rate of the U.S. economy had been one percentage point higher
than it actually has been, our current standard of living would be five times what it actually is.

Question

Quizplus · Accepted Answer

A one percentage point increase in the historical growth rate would not result in a fivefold increase in the standard of living, as economic growth compounds over time but not to such an extreme extent.

If the Historical Growth Rate of the U