_____ is/are an important determinant of its standard of living in the long run.
A) A nation's net exports
B) The productivity of a nation's resources
C) A nation's population growth rate
D) The deficit in a nation's capital account
E) The deficit in a nation's current account

Question

Quizplus · Accepted Answer

The productivity of a nation's resources is critical to its long-term standard of living as it determines the amount of goods and services a nation can produce with its given resources. Higher productivity leads to more output, leading to higher incomes and a higher standard of living. The other options may affect a nation's short-term economic health but not necessarily its long-term standard of living.

_____ Is/are an Important Determinant of Its Standard of Living