What is the only real way to increase wages and standard of living?
A)Increase quality.
B)Increase competition.
C)Increase trade.
D)Increase productivity.

Question

Quizplus · Accepted Answer

The only real way to increase wages and standard of living is to increase productivity. When workers become more productive, they can create more value in the same amount of time, which allows their employers to pay them more. This increase in productivity is ultimately what drives economic growth and allows people to enjoy a higher standard of living.

What Is the Only Real Way to Increase Wages and Standard