Question

Which of the following government policies is least likely to increase the standard of living in the United States?Investment in education and skills training for workersRaising the minimum wage paid to workersInvestment in tools and capital for workersInvestment in technology

Answer 1

Answer: Option B

Explanation: The correct answer is raising the minimum wage paid to workers. Standard of living can be defined as the degree of comfort and luxury provided to every individual in a specified area. The standard of living involves every individual in the country thus the investment should be made on the sector which effect every individual. Raising the minimum wage would only increase the standard of living of poor and not every section of the society.