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JAMB Economics 2007 Question 35

Question 35

Theory of Production

In a developing economy, productivity is measured by the

  1. A.capital-output ratio
  2. B.output per capita
  3. C.output-labour ratio
  4. D.output growth rate
Show the answer and explanation

Answer: C (output-labour ratio)

Explanation

Labour productivity is output per worker, i.e. the output-labour ratio.