Economic growth may understate changes in standards of living if

Question

Quizplus · Accepted Answer

Economic growth may understate changes in standards of living if leisure time is also increasing. Economic growth typically focuses on the increase in production and income, but it may not capture the improvements in the quality of life that come with increased leisure time. Therefore, economic growth may not fully reflect changes in standards of living that are brought about by increased leisure time.

Economic Growth May Understate Changes in Standards of Living If