In the long run, the most important source of increase in a nation's standard of living is a: Group of answer choices high rate of economic growth. high rate of labor force growth. zero rate of population growth high rate of consumption.

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In the long run, the most important source of increase in a nation's standard of living is a: Group of answer choices high rate of economic growth. high rate of labor force growth. zero rate of population growth high rate of consumption.

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Ayokenny2001go Ayokenny2001go · Answer 1

In the long run, the most important source of increase in a nation's standard of living is high rate of economic growth.

What is economic growth?

This refers to continuous increase in the total amount of goods and services produced within a country.

The long run is a period in which all factors of productions are variable hence high rate of economic growth is essential towards a nation's standard of living.

Learn more about economic growth here: https://brainly.com/question/1690575

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