Higher standards of living are the result of
A) an increase in the general level of prices.
B) trade restrictions that favor domestic industries over foreign competition.
C) an increase in the availability of goods and services that people value.
D) government subsidies that expand employment.

Question

Quizplus · Accepted Answer

Higher standards of living result from an increase in the availability of goods and services that people value. This can be achieved through economic growth and development, technological advancements, and improvements in infrastructure and education. Price increases (choice A) may lead to inflation and a decrease in purchasing power, while trade restrictions (choice B) may limit competition and inhibit innovation. Government subsidies (choice D) can stimulate employment but may not necessarily lead to an increase in the availability of goods and services that people value.

Higher Standards of Living Are the Result of