The key determinant of a person's standard of living in a country is

Question

Quizplus · Accepted Answer

The amount of goods and services produced from each hour of a worker's time, also known as labor productivity, is the key determinant of a person's standard of living in a country. This is because higher labor productivity leads to higher wages and income per person, which in turn increases people's ability to consume goods and services, improving their standard of living. Therefore, A is the correct answer. B, C, and D may contribute to a country's standard of living, but they are not the key determinant.

The Key Determinant of a Person's Standard of Living in a Country