Waec Model Questions Vol1 2025 Economics Question 1
Practice objective / multiple choice question 1 from the 2025 Waec Model Questions Vol1 Economics examination.
A country's poverty rate (P%) is modelled by \(P = a - b\cdot\ln(Y)\), where \(Y\) is real GDP per capita (in Naira). When \(Y = 100{,}000\), \(P = 40\%\); when \(Y = 150{,}000\), \(P = 30\%\). The government aims to reduce poverty to \(20\%\). The investment multiplier is 0.5, meaning each additional Naira of investment raises \(Y\) by 0.5 Naira. How much additional investment per capita (in Naira) is required to achieve the target poverty rate?
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This is Waec Model Questions Vol1 2025 Economics Question 1. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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