Question

President Truman believed that an increase in the standard of __________ meant that a nation was moving toward economic development, which typically included the improved exploitation of natural resources by industrial development.

Answer 1

Answer: Standard of living

Explanation: Standard of living generally refers to wealth, comfort, material goods and necessities of certain classes in certain areas which improves the quality of living.

An improved standard of living can be used as a tool to monitor an economy that has experienced growth. This is because with economic growth comes good amenities, employment, presence of improved infrastructure and much more. This factors improves the quality of living of Citizens of a particular country.