One variable responsible for most significant explanation of variations in living standards around the world is
A)productivity.
B)population.
C)preferences.
D)prices.

Question

Quizplus · Accepted Answer

Productivity, or the amount of goods and services produced from each hour of a worker's time, is the most significant factor in explaining variations in living standards around the world. Higher productivity leads to higher incomes and living standards.

One Variable Responsible for Most Significant Explanation of Variations in Living