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18 October, 09:21

The one variable that stands out as the most significant explanation of large variations in living standards around the world is a. productivity. b. population. c. preferences. d. prices.

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  1. 18 October, 09:35
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    The answer is (D) productivity.

    Explanation:

    Each country manages to generate products and operate businesses at a different rate from one another. Those who are able to do more - whether in quality and quantity - tend to do better in living standards than countries that do less. Though this might be occurring in a micro-economic level, the productivity generated by its citizens through these efforts would impact the country on a macro-level; from strengthening the country's currency to reducing the overall unemployment rate.
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