The one variable that stands out as the most significant explanation of large variations in living standards around the world is
A)productivity.
B)population.
C)preferences.
D)prices.

Question

Quizplus · Accepted Answer

Productivity is the most significant variable as it determines how much output can be produced with a given amount of resources. Countries that have higher productivity are able to produce more goods and services, which leads to higher standards of living. On the other hand, countries with lower productivity struggle to meet their basic needs and have lower standards of living.

The One Variable That Stands Out as the Most Significant