The key factors in raising standards of living in low-income countries have been increases in
A)capital accumulation and the money supply.
B)technology and knowledge.
C)foreign aid and population.
D)income and government ownership of resources.

Question

Quizplus · Accepted Answer

Increases in technology and knowledge allow for greater productivity and efficiency in low-income countries, leading to economic growth and ultimately raising standards of living. Capital accumulation and increased money supply can help support economic growth, but without technology and knowledge, economic development may not be sustainable. Foreign aid and population may contribute to short-term improvements, but they are not reliable long-term solutions. Government ownership of resources may have a role to play in promoting economic development, but it is not the key factor in raising standards of living.

The Key Factors in Raising Standards of Living in Low-Income