A nation's standard of living is primarily a function of
A) natural resource availability.
B) government benefits.
C) national defense.
D) productivity.

Question

Quizplus · Accepted Answer

A nation's standard of living is primarily a function of its productivity. Productivity is a measure of the amount of output produced per unit of input, such as labor or capital. When a country is more productive, it can produce more goods and services, leading to higher profits and wages, which can translate into a higher standard of living for its citizens. While natural resource availability, government benefits, and national defense can contribute to a country's economic success, they are not the primary drivers of a nation's standard of living.

A Nation's Standard of Living Is Primarily a Function of