Millennials Face Lower Standard of Living

The video discusses historical and current economic growth, focusing on median household income and the impact of technology on productivity. It highlights the challenges faced by the current generation in achieving economic prosperity compared to previous generations. The discussion also covers the role of the Federal Reserve in managing economic policy amidst global challenges and the potential for reforms to improve economic conditions.

What was the average growth rate of the UK between 1300 and 1700?

• 1.2%

• 3.0%

• 0.2%

• 2.0%

Why is it suggested to look at a moving average for employment data?

• To predict future inflation

• To ignore seasonal variations

• To identify long-term trends

• To focus on short-term fluctuations

What is a major risk for the Fed in a slow growth environment?

• High inflation

• Rapid economic expansion

• Limited progress in tightening policy

• Increased unemployment

What period experienced a significant boost in productivity due to the computer age?

• 1995-2004

• 1980-1990

• 2010-2020

• 2005-2015

What reforms are suggested to help improve median household income?

• Military reforms

• Healthcare reforms

• Immigration and education reforms

• Environmental reforms