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JAMB Economics 2008 Question 34

Question 34

Economic Growth and Development

A good indicator of economic development is an increase in

  1. A.gross national product
  2. B.per capita income
  3. C.real national income
  4. D.real per capita income
Show the answer and explanation

Answer: D (real per capita income)

Explanation

Real per capita income adjusts income for price changes and for population, showing whether the average person is actually better off.