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WAEC Economics 2003 Question 19

Question 19

Labour Market

Which of the following could be used to measure the efficiency of labour?

  1. A.Education and training
  2. B.Rate of inflation
  3. C.Level of unemployment
  4. D.Input-Output ratio
Show the answer and explanation

Answer: D (Input-Output ratio)

Explanation

Labour efficiency is measured as output per worker or per hour, i.e. the ratio of output to input.