An increase in the nation's _____ is generally accepted as a long-run indicator of a rising standard of living.

Question

Quizplus · Accepted Answer

Output per person, also known as productivity, refers to the amount of goods and services produced per worker. An increase in output per person indicates that each worker is producing more, which can lead to higher wages and a higher overall standard of living. The other options, such as unemployment rate, inflation rate, and trade deficit, may not necessarily indicate a rising standard of living.

An Increase in the Nation's _____ Is Generally Accepted as a Long-Run