If the number employed grows faster than the population,then the
A)Living standard will fall.
B)Growth rate of GDP will fall.
C)Living standard will rise.
D)Growth rate of GDP will not be affected.

Question

Quizplus · Accepted Answer

If the number employed grows faster than the population, it means that the unemployment rate is decreasing, which in turn implies that there are more people who have steady sources of income. This will lead to an increase in the overall purchasing power of the population, leading to an increase in demand for goods and services. This increase in demand will, in turn, lead to an increase in production, which will fuel economic growth. Therefore, the living standard will rise.

If the Number Employed Grows Faster Than the Population,then the