The United States is considered to have a high standard of living because:A.its currency is no longer tied to precious metals like gold.B.its citizens have access to a wide variety of material goods.C.its businesses rarely have to pay taxes to the federal government.D.the most important sectors of its economy are agricultural.

Which development would most likely signal that the standard of living has declined in the United States?A.U.S. factories begin producing advanced electronics.B.More Americans have access to affordable health care.C.Fewer American consumers are able to buy luxury goods.D.The U.S. government switches back to the gold standard.

The standard of living in any country is:Group of answer choicesmeasured by subtracting the supply of goods and services from the demand for goods and servicesdetermined by the money left over after all expenses are paidthe general level of human happiness based on such things as life expectancy, educational standards, health, sanitation, and leisure timemeasured by the output of goods and services people can buy with the money they havehigher for less developed countries like Angola, Bangladesh, and Ceylon than it is for the U.S.

In the modern international economy, the United States is recognized as the country with:A.the highest rate of unemployment.B.the largest gross domestic product.C.the lowest level of economic development.D.the strongest commitment to the gold standard.

When compared to most other developed countries, the United States:A.has a higher gross domestic product.B.has a higher rate of unemployment.C.has a higher standard of living.D.is more likely to rely on the gold standard.

Which development would most likely reduce the standard of living in the United States?A.Wages increase for most American workers.B.It becomes easier for U.S. citizens to get health care.C.U.S. factories begin to produce far fewer goods.D.The U.S. government returns to the gold standard.