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A country's standard of living can improve only through increases in productivity.

True
False

1 Answer

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Final answer:

It is false that a country's standard of living can only improve through productivity increases; standard of living is influenced by various factors, including technology, health, and infrastructure.

Step-by-step explanation:

It is false that a country's standard of living can improve only through increases in productivity. While higher productivity can lead to more goods and services, along with a higher Gross Domestic Product (GDP) and GDP per capita, it is not the sole determinant of living standards. There are multiple factors, including improvements in human and physical capital, technology, and the ability to connect and interact within a global market, that contribute to a country's standard of living. Furthermore, factors such as human health, environmental cleanliness, and infrastructure developments play significant roles and are not always captured by GDP metrics.

User Eric Schoen
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