The standard of living in a nation depends on
A) how well its economy functions relative to other countries.
B) the size of the country, with larger nations always doing better than smaller ones.
C) how well the economy functions within that country.
D) whether or not its currency is adopted as the world's monetary standard.

Question

Quizplus · Accepted Answer

The standard of living in a nation depends primarily on how well the economy functions within that country, including factors such as employment rates, access to goods and services, and quality of life. While comparisons to other countries can provide context, they do not determine the standard of living within a nation. The size of a country and the status of its currency as a world monetary standard may be factors but are not primary determinants of the standard of living.

The Standard of Living in a Nation Depends on