To achieve a high standard of living, a nation should: Select one: a. increase the tax deduction for child dependents. b. promote economic growth. c. use less capital and more labor in the production process. d. increase welfare payments to the poor.

b. promote economic growth

Explanation:

Economic growth refers to a rise in a nation's per capita income which is accomplished by a rise in the national output and increase in the Gross Domestic Product (GDP).

Economic development on the other hand is accomplished when a nation's GDP rise is accompanied by a rise in the standard of living of it's people.

A rise in the standard of living of the people is directly related with rise in the per capita income since, per capita income is a measure depicting average income earned by a person in a region.

Thus, in order to raise the standard of living of it's people, a nation should promote economic growth.

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