Question
Standard of living of a country can be raised if it increases
Answer: Option B
Standard of living of a country can be raised if it increases Production. Labor productivity is a measure of the amount of goods and services that the average worker produces in an hour of work. The level of productivity is the single most important determinant of a country's standard of living, with faster productivity growth leading to an increasingly better standard of living.
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Standard of living of a country can be raised if it increases Production. Labor productivity is a measure of the amount of goods and services that the average worker produces in an hour of work. The level of productivity is the single most important determinant of a country's standard of living, with faster productivity growth leading to an increasingly better standard of living.
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