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JAMB Economics 2014 Question 34

Question 34

Economic Growth and Development

A major feature of an underdeveloped economy is

  1. A.low level of standard of living.
  2. B.low level of unemployment.
  3. C.excess capacity utilization.
  4. D.low rate of population growth.
Show the answer and explanation

Answer: A (low level of standard of living.)

Explanation

Underdeveloped economies have low incomes per head, so most people have a low standard of living.