Question

The day-to-day living conditions of modern Americans are very different from what they were in the 20th century. While doing research for an economics project, Charlie discovers that more households today, as compared to households 100 years ago, have electricity, air conditioning, and a car.

Which of the following explains why modern Americans enjoy a higher standard of living than Americans 100 years ago?
(A) Market failures are nonexistent.
(B) There has been economic growth in our society.
(C) Americans have prospered and earned more money due to complete lack of recessions.
(D) The invisible hang has guided all nations around the world to this prosperity.

Answer 1

The correct answer is B) There has been economic growth in our society

Step-by-step explanation:

The United States of America economy registered one of the fastest-growing in the last 100 years in the whole world

Currently, the Americans have a good income per capita, which means that there is a great capacity for acquisition.