Geography: Does a high standard of living guarantee a high quality of life ?

No, it does not. "Standard of living" means access to resources---the amount of money people earn, their access to health care and education, that sort of thing. Though people may have a lot available to them, that might not actually make them happy, and "quality of life" is about happiness.

Imagine a rich country which is ruled by an oppressive dictatorship. The people may have a high standard of living, but their lack of liberty means a low quality of life.

Another example is obesity. It is something that can only happen to people with a high standard of living (access to lots of food), yet obese people are unhealthy and often unhappy.

Sorta.... when you set the bars high, good results are waiting for you. When people set the bar low they are afraid of not succeeding. However, you are never guaranteed anything you have to earn it. It only raises the probability that you will guarantee a high quality of life. The work you put in is what comes out. For example, if you eat cake and ice cream all the time you will be fat. However, if you eat salad and work to be fit, guess what? You will be fit.