Are jobs the key to economic progress and the achievement of high income levels?
A) Yes, as long as people are working, real income levels will be high.
B) Yes, when full employment is present, income levels will be at their maximum.
C) No, it is not just employment, but employment that expands production of goods and services that others value highly relative to cost.
D) Uncertain, additional employment will increase real income only when the general level of prices is unchanged.

Question

Quizplus · Accepted Answer

Simply having jobs alone is not enough for economic progress and high income levels. The key is having jobs that expand production of goods and services that others value highly relative to cost. This creates value for society and leads to the generation of wealth, which in turn can increase real income levels. Therefore, it is not just the quantity of jobs, but the quality and productivity of those jobs that drive economic progress and high income levels.

Are Jobs the Key to Economic Progress and the Achievement