The correct answer would be option B, Higher the cost of living.
The lower a country's economic development, the higher the cost of living.
Explanation:
Cost of living is the amount needed to live a life by fulfilling the basic necessities of a person or family. The cost of living includes the following basic necessities:
- Housing
- Food
- Healthcare
- Education
- Taxes
When an economy's development is lower, all of these basic necessities will be available at a higher price, which means the cost of living would be higher when economic development is lower. Cost of living is directly associated with the wages. When economic development is lower, it means there will be less chances of employment, which in turns will affect the wages.
Cost of living is often found by comparing the living in two cities or two countries. Economic development of the countries directly affect the cost of living.
Learn more about Economic Development at:
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