The key determinant of the standard of living in a country is
A)the amount of goods and services produced from each hour of a worker's time.
B)the total amount of goods and services produced within the country.
C)the total amount of its physical capital.
D)its growth rate of real GDP.

Question

Quizplus · Accepted Answer

The standard of living in a country is primarily determined by the productivity of its workers, which is measured by the amount of goods and services produced from each hour of a worker's time. This reflects how efficiently resources are used and directly impacts the average income and quality of life.

The Key Determinant of the Standard of Living in a Country