Panama Canal, Spanish Canal de Panamá, lock-type canal, owned and administered by the Republic of Panama, that Building the Panama Canal, 1903–1914 President Theodore Roosevelt oversaw the realization of a long-term United States goal—a trans-isthmian canal. Throughout the 1800s, American and British leaders and businessmen wanted to ship goods
Explanation: Standard of living generally refers to wealth, comfort, material goods and necessities of certain classes in certain areas which improves the quality of living.
An improved standard of living can be used as a tool to monitor an economy that has experienced growth. This is because with economic growth comes good amenities, employment, presence of improved infrastructure and much more. This factors improves the quality of living of Citizens of a particular country.
