Question

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

A.an increase in unemployment pushes down the cost of production
B.rising production costs drive up the price of goods and services.
C.income increases, enabling consumers to buy more goods and services
D.wages go up to correct for the inflation of prices

Answer 1

I think c is the right option for the results in an increase in the standard of living

Answer 2

Answer: The right option is “C.” The consumers are enabling to buy more goods and services with an increase in income.

This is a reflection of a healthy economy where the standard of living increases with the increase n income.

The rate of inflation is low; therefore the consumer is able to pay more to uplift the standard.