Answered

Economic growth:

A. does not affect living standards at all.

B. has a relatively small effect on living standards over long periods of time.

C. has a relatively large effect on living standards over long periods of time.

D. is the sole determinant of living standards over any time period.



Answer :

GinnyAnswer

Final answer:

Economic growth is a key factor that influences the standard of living in a country.


Explanation:

Economic growth ultimately determines the prevailing standard of living in a country. Economists measure growth by the percentage change in real gross domestic product. A growth rate of more than 3% is considered good.


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