Final answer:
The average standard of living in the U.S. has risen dramatically in the last century, evidenced by a shorter workweek, better health, more education, cleaner environment, and technological advancements that GDP alone may not fully capture.
Step-by-step explanation:
In the United States, the average standard of living has increased by 4% during the last century. The standard of living encompasses various aspects of quality of life, including the decrease from a 60-hour to a less than 40-hour workweek, dramatic increases in life expectancy and health, and significant improvements in education levels. Since 1970, environmental quality has also improved with cleaner air and water. Moreover, the human capital illustrated by a substantial jump in the percentage of the population with high school diplomas and four-year college degrees has led to greater productivity and output nationally.
The technological advancements and an increase in the variety of available products like food and clothing have contributed to a substantial rise in the standard of living that GDP alone might not fully capture. These changes reflect not only economic growth but also overall improvements in Americans' daily lives.