Question

HURRY!!!! ill mark as brainliest As resident of the United States, what advantages do you have by living in a developed economy, like the United States, that kids in developing or underdeveloped economies, like Sierra Leone, do not? What challenges do they face that you may not have to face?

Answer 1

Answer:

Advantage living in a developed econome

Economic growth creates higher tax revenues, and there is less need to spend money on benefits such as unemployment benefit. Therefore economic growth helps to reduce government borrowing. Economic growth also plays a role in reducing debt to GDP ratios.