What is the most important factor that explains differences in living standards across countries?
A)the quantity of money
B)the level of unemployment
C)productivity
D)equality

Question

Quizplus · Accepted Answer

Productivity is the most important factor that explains differences in living standards across countries as it determines how much output can be produced per unit of input. Countries with higher productivity can produce more goods and services with the same amount of resources, leading to higher income levels and living standards. Money, unemployment, and equality are also important factors, but they are more outcomes of productivity and other factors rather than driving forces themselves.

What Is the Most Important Factor That Explains Differences in Living