What is the only real way to increase standard of living?
A)Increased quality
B)Increased finances
C)Increased inflation
D)Increased productivity

Question

Quizplus · Accepted Answer

Increased productivity is the only real way to increase standard of living as it enables the production of more goods and services, leading to higher incomes, better quality products, and overall economic growth. Increased quality may also contribute but without increased productivity, it is not sustainable. Increased finances and inflation may temporarily increase standard of living but can lead to negative consequences such as inflationary pressure and wealth inequality.

What Is the Only Real Way to Increase Standard of Living