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Priyanka Yadav
on Nov 11, 2024

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In order for society to have a rising standard of living,output must grow:

A) at a slower rate than the labor force.
B) at the same rate as the population.
C) faster than the population.
D) at a slower rate than the population.
E) at a slower rate than infrastructure.

Standard Of Living

This term defines the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Labor Force

The labor force comprises all the working-age population that is either employed or actively seeking employment.

Output

The total amount of goods and services produced by an economy over a specific time period.

  • Comprehend the relationship between GDP growth, population increase, and the standard of living.
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Daniela CabralNov 14, 2024
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