Question

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

working longer hours than the rest of the world
increasing consumption of goods and services
pursuing more difficult jobs than residents of other countries
discovering an inexpensive way to make steel

Answer 1

[AI-generated answer — Bot GPT 3.5]

Discovering an inexpensive way to make steel is likely to lead to an increase in the standard of living for American consumers. This is because it could lead to lower costs for steel products, which in turn could lead to lower prices for consumer goods that contain steel components. This increased efficiency in steel production could potentially benefit the overall economy and lead to higher standards of living for consumers.