Countries that have experienced sustained increases in their standard of living have achieved them because of

Question

Quizplus · Accepted Answer

While higher rates of saving and investment and higher rates of population growth can contribute to economic growth, sustained increases in the standard of living require sustained technological change. Technological advancements enable productivity gains and improvements in efficiency, which lead to higher incomes and a better standard of living for individuals.

Countries That Have Experienced Sustained Increases in Their Standard of Living