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JAMB Economics 1997 Question 45

Question 45

Economic Growth and Development

The most important factor in ensuring economic development is the

  1. A.effective mobilization of domestic savings
  2. B.presence of foreign capital
  3. C.formulation of appropriate government policies
  4. D.attraction of foreign aids and grants.
Show the answer and explanation

Answer: C (formulation of appropriate government policies)

Explanation

Savings, foreign capital and aid only produce development when the right government policies direct them into productive use.