Question on: JAMB Economics - 2018

In a developing economy, productivity is often measured by the output-labor ratio. This indicates the efficiency with which labor is used in production. * **A. output - labour ratio:** This measures output per unit of labor, indicating how much is produced by each worker. * **B. capital - output ratio:** This ratio is important, but it focuses on capital's efficiency. * **C. output growth rate:** While output growth is related to productivity, it's not a direct measure of how efficiently resources are being used. * **D. Output per capital:** This is another important ratio but does not measure overall productivity.