Standard of living tends to decrease with growth in the economy.

Name: Standard of living tends to decrease with growth in the economy.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is false. As the economy grows, people tend to have more access to resources, opportunities, and higher-paying jobs, which can improve their standard of living. However, there may be some instances where economic growth is not evenly distributed among all members of society, leading to an overall decrease in the standard of living for certain groups.

Standard of Living Tends to Decrease with Growth in the Economy