The primary determinant of a country's standard of living is
A)the country's ability to prevail over foreign competition.
B)the country's ability to produce goods and services.
C)the total supply of money in the economy.
D)the average age of the country's labor force.

Question

Quizplus · Accepted Answer

The primary determinant of a country's standard of living is its ability to produce goods and services. This ability directly impacts the economic prosperity and quality of life of its citizens by determining the availability of products, services, and employment opportunities.

The Primary Determinant of a Country's Standard of Living Is