The relationship between the cost of living and standard ...
The relationship between the cost of living and standard of living is
A rise in cost of living gives a corresponding rise in standard of living
A lower cost of living give a higher standard of living
A lower cost of living give a lower standard of living
None of the above
Correct answer is B
Cost of living is the amount of money individuals spent on consumption while the standard of living is the state of economic well being. Therefore, a fall in the cost of living leads to a rise in standard of living.
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