The major contributor to the long-run improvement of a country's standard of living is
A) low inflation.
B) growth in government.
C) population growth.
D) technological progress.

Question

Quizplus · Accepted Answer

Technological progress is the main contributor to the long-run improvement of a country's standard of living because it enables increased productivity, efficiency, and innovation in various industries. This results in higher output levels, increased job opportunities, and better consumer goods and services. Low inflation, growth in government, and population growth can have some impact on a country's standard of living in the short-term but are not sustainable long-term drivers of economic growth and development.

The Major Contributor to the Long-Run Improvement of a Country's