Question

Determine who the wealthiest man in history is, after adjusting for inflation. Explain IV. why or why not your standard of living is better his was. Make sure to write your responses in full sentences and not just in bullet points. Using the three steps, show how a reduction in taxes on retirement accounts affect the investment-savings equilibrium. In your own words, explain how and why the variables changed values. Make sure to show all of your work and all of the steps. V. Using the three steps, show how a reduction in investment policy restrictions affect the investment-savings equilibrium. In your own words, explain how and why the variables changed values. Make sure to show all of your work and all of the steps. VI. VII. Suppose that a government starts with a balanced budget. Because of an increase in government spending, it starts running a budget deficit. Using the three steps, explain

Answer 1

I have written answer to Question - IV in the image attached below -

Mansa Muso or Musal og Mali (1280-1331) is considered the wealthiest man in the history with an estimated personal net worth of $400 billion in today's money after inflation adjustment. He ruled the alian empire which cover modern day Ghana, Timbaktu and Mali in the west Africa. He acquired most part of his wealth from the production of salt and gold, more than half of the world's supply at that time. Although there is really no way to put an accurate number on his wealth, he is reported as being inconceivably rich by contemporaries. If we go by the phrase Standard of Living then it is the degree of health and comfort available to a person. In that sense, without a doubt his standard of living was uperior unimage has than ours in today's world. But in present time apart from material goods and necessities Standard of living also constitutes accen to quality healthcare availability of education, life expectancy, infrastructure etc. which may not be that better in past as

compared to todays inter-connected and technological world with modern gadgets and equipments. In that sense, we can say that our Standard of living is better but saying that on quality of Life is better will be much more appropriate. However, Standard of Living is closed related to Quality of life. Although, the main idea of Standard is constrosted with Quality of Life as it takes into account the material standard I 1 of living