The fact that different countries experience different standards of living is largely explained by differences in those countries'
A)populations.
B)productivity levels.
C)locations.
D)None of the above is correct.Economists are puzzled by differences in standards of living around the world.

Question

Quizplus · Accepted Answer

Productivity levels, or the amount of output produced per unit of input, plays a significant role in determining a country's standard of living. Countries with higher productivity levels tend to have higher wages, more goods and services available, and a higher overall standard of living.

The Fact That Different Countries Experience Different Standards of Living