Almost all variation in living standards is attributable to differences in countries'
A)population growth rates.
B)productivity.
C)systems of public education.
D)taxes.

Question

Quizplus · Accepted Answer

Productivity refers to the efficiency with which resources are used to produce goods and services. Higher productivity means that a country can produce more output for a given set of inputs. This leads to higher incomes and a higher standard of living for the population. Therefore, differences in productivity levels between countries are responsible for most of the variation in living standards.

Almost All Variation in Living Standards Is Attributable to Differences