Most economists believe the single largest cause of rising material living standards over long periods of time is
A)productivity growth.
B)rising employment.
C)growth in the capital stock.
D)real GDP growth.
E)rising real wages.

Question

Quizplus · Accepted Answer

Productivity growth is the most important factor in raising material living standards over time. This is because higher productivity allows for increased output with the same amount of inputs, resulting in higher levels of consumption and more goods and services available for the same amount of effort or resources.

Most Economists Believe the Single Largest Cause of Rising Material