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

Question

Quizplus · Accepted Answer

Technological progress leads to improvements in productivity and efficiency, which leads to higher economic growth and a higher standard of living. Immigration policy, growth in population, constructing machines and buildings, and taxes can all have an impact on economic growth and living standards, but technological progress is the most important factor in the long term.

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