Improvements in a country's standard of living are brought about in the long run by
A) immigration policy.
B) technological progress.
C) taxes.
D) growth in the population.
E) constructing more machines and buildings.

Question

Quizplus · Accepted Answer

Technological progress leads to innovation and efficiency, resulting in increased productivity and higher economic output, ultimately improving the standard of living. Immigration policy and growth in population can also contribute to long-term economic growth, but not necessarily to improvements in standard of living. Taxes and constructing more machines and buildings alone do not guarantee long-term improvements in standard of living.

Improvements in a Country's Standard of Living Are Brought About