Question

in the long run, a country will experience an increasing standard of living only if it experiences

a. a slow rate of population growth.
b. continuous technological change.
c. a high rate of consumption.
d. a high rate of labor force growth.

Explanation:

In economic theory, continuous technological change leads to increased productivity. Higher productivity means more goods and services can be produced per worker. This growth in output per capita (due to technological progress) is crucial for a long - run increase in the standard of living. A slow population growth rate (\(A\)) might help in some ways but doesn't directly drive long - run productivity growth. A high rate of consumption (\(C\)) without corresponding production growth is not sustainable. A high rate of labor force growth (\(D\)) without technological progress can lead to diminishing returns (from the law of diminishing marginal returns in production).

Answer:

B. continuous technological change.