Question

Which of the following results in an increase in the standard of living?

Answer 1

Answer:

B. Income increases, enabling consumers to buy more goods and

services.

Explanation:

An increase in the standard of living would come with an increase in the income. By increasing your income, you open your possibilities of what you can acquire. For example, if you increase the income from a certain society without modifying the costs of the goods, then people eventually will buy more goods and services. In economics there’s the statement that “with higher consumption levels, there is greater prosperity”.

Answer 2

Answer:

B

Explanation:

I know that B is correct because when there's a high standard of living, there's an increase in the state's income...

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