Waec Model Questions Vol1 2021 Economics Question 9

Practice objective / multiple choice question 9 from the 2021 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2021 Economics Objective / Multiple Choice Medium Difficulty
Question 9 WAEC_MODEL_QUESTIONS_VOL1 • 2021 • ECONOMICS • objective

In 2022 the nominal GDP of a country was ₦5,000 billion and the GDP deflator for that year was 125 (base year 2010 = 100). Real GDP for 2022 is expressed in base‑year prices. If the real GDP in 2021 was ₦4,800 billion, compute the real GDP for 2022 and the real‑GDP growth rate from 2021 to 2022.

Answer Options

A. Real GDP 2022 = 3800 billion; growth rate = -20.8%
B. Real GDP 2022 = 4000 billion; growth rate = 5.0%
C. Real GDP 2022 = 4200 billion; growth rate = -12.5%
Correct Answer D. Real GDP 2022 = 4000 billion; growth rate = -16.7%
Correct Answer
D
Correct Option:
Real GDP 2022 = 4000 billion; growth rate = -16.7%

About This Question

This is Waec Model Questions Vol1 2021 Economics Question 9. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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