ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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higher the quality of life
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higher the agricultural labor force
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lower the cost of living
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lower the urban population
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Detailed explanation-1: -Growing businesses and creating jobs increases revenue. It puts people to work, which puts money in their pockets, which helps them build a better life.
Detailed explanation-2: -Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.
Detailed explanation-3: -In economic development, the concept of “quality of life” includes a complex balance of indicators from jobs and education to healthcare and housing. It includes arts and culture and infrastructure. Crime and taxes count too.
Detailed explanation-4: -Supporters of a capitalist system point to the higher production, greater wealth, and higher standard of living displayed by capitalist countries such as the United States.