An economy that grows too slowly fails to raise living standards.

Question

Quizplus · Accepted Answer

Economic growth is essential for improving the standard of living of a country's citizens. When an economy grows too slowly, it generates a lower level of income, fewer job opportunities, and a lower level of development. This can lead to lower living standards, poverty, and economic stagnation. Therefore, a slow-growing economy fails to increase the overall well-being and quality of life of its citizens.

An Economy That Grows Too Slowly Fails to Raise Living