If a nation's productivity drops as compared to competing nations, it will experience
A) low inflation.
B) a fall in its standard of living.
C) higher profits.
D) no loss of income.
E) increased wealth.

Question

Quizplus · Accepted Answer

When a nation's productivity drops as compared to competing nations, it will experience a fall in its standard of living. This is because lower productivity means lower output and lower incomes for workers, businesses, and the economy as a whole. This can lead to a decline in GDP, reduced employment opportunities, and ultimately a lower standard of living for the population.

If a Nation's Productivity Drops as Compared to Competing Nations