Almost all variation in living standards is attributable to differences in countries':

Question

Quizplus · Accepted Answer

Productivity, or the efficiency with which resources are used to produce goods and services, is the main determinant of a country's living standards. Countries with higher productivity can produce more output with the same amount of resources, leading to higher levels of income and a better standard of living. Population growth rates, natural resource endowments, and defence budgets can all have an impact on a country's economy, but they are not as significant as productivity.

Almost All Variation in Living Standards Is Attributable to Differences