Question

Question

Which of the following will likely lead to an increase in the standard of living for American consumers?(1 point)
Responses

working longer hours than the rest of the world
working longer hours than the rest of the world

pursuing more difficult jobs than residents of other countries
pursuing more difficult jobs than residents of other countries

increasing consumption of goods and services
increasing consumption of goods and services

discovering an inexpensive way to make steel

Answer 1

The option that will likely lead to an increase in the standard of living for American consumers is:

discovering an inexpensive way to make steel.

This innovation would reduce production costs, potentially lower prices for goods that use steel, and could lead to increased economic growth and job creation, thereby improving overall living standards.