In the long run, a country will experience an increasing standard of living only if it experiences
A)a high rate of consumption.
B)continuous technological change.
C)a high rate of labour-force growth.
D)a slow rate of population growth.
E)a high rate of capital accumulation.

Question

Quizplus · Accepted Answer

Continuous technological change is crucial for long-term improvements in productivity and efficiency, which are essential for increasing a country's standard of living.

In the Long Run, a Country Will Experience an Increasing