Economic growth is necessary to create new jobs,increase incomes,and raise standards of living.

Question

Quizplus · Accepted Answer

Economic growth results in an increase in the production of goods and services, leading to more job opportunities, higher incomes, and an overall improvement in the standard of living for people. This is because when the economy grows, there is more demand for labor, which means employers are more likely to hire new workers or give raises to existing employees. Additionally, economic growth can lead to increased investment in infrastructure and education, which also promotes job creation and raises standards of living.

Economic Growth Is Necessary to Create New Jobs,increase Incomes,and Raise