Which of the following statement is true about low-income countries ?
Correct answer: B. the average agriculture family produces surplus large enough only to supply small non-agriculture population
- A. less than 10% of the labor force is in agriculture
- B. the average agriculture family produces surplus large enough only to supply small non-agriculture population
- C. One-third of the labor force produce food
- D. share of labor force is about 30%
Explanation
Low-income countries commonly have a large agricultural population, but agricultural productivity is low, so each farm family produces only enough surplus to support a small nonagricultural population. The other choices incorrectly imply a small or moderate agricultural labor force.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,499 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Macroeconomics questions
According to Lewis's model the dual economy grows only when ?
The following statements are true about informal sector except ?
Which one of the following countries is not a high-income country ?
Two or more nuclear families of parent(s) and children is known as ?
Increases in real GNP per capita occur when ?
The low-income economies generally have the following except ?