A nation's standard of living can be increased by:

Question

Quizplus · Accepted Answer

Improvements in technology can lead to increased productivity and efficiency, allowing for more goods and services to be produced with the same amount of resources. This can lead to lower costs for consumers and higher profits for producers. International trade can increase the variety of goods and services available and allow for specialization, which can also lead to increased productivity and lower costs. Additionally, trade can help countries access new markets and resources, further increasing their standard of living.

A Nation's Standard of Living Can Be Increased By