Final answer:
The assertion that technological progress in the U.S. has enhanced productivity and living standards is true. Key factors behind this growth are advances in education, physical and technological capital, and tremendous innovation as indicated by the number of patents.
Step-by-step explanation:
The statement that technological progress in the U.S. has resulted in higher productivity, the elimination of many menial and dangerous jobs, higher wages, shorter hours, and a higher standard of living is TRUE. Technological advancements have drastically transformed the U.S. economy, infrastructure, and workforce capabilities.
In the twentieth century, the United States saw a substantial increase in its population alongside a remarkable improvement in education and skills among workers, with a dramatic rise in high school and four-year college degree holders.
This surge in human capital, combined with significant investments in physical capital and the introduction of a myriad of technologies, such as computers, smartphones, and advances in health care, has significantly boosted the U.S. economy's potential GDP.
Furthermore, industrialization and urbanization have driven economic growth while also presenting new challenges, like the prevalence of poverty and harsh working conditions in cities. Nonetheless, today's U.S. workforce is not only better educated but also benefits from vastly improved and more advanced technologies, as reflected by the high volume of patents issued annually, signaling ongoing innovation and technological progress.