Post Utme Esut 2017 Economics Question 16

Practice objective / multiple choice question 16 from the 2017 Post Utme Esut Economics examination.

Post Utme Esut 2017 Economics Objective / Multiple Choice
Question 16 POST_UTME_ESUT • 2017 • ECONOMICS • objective

A country's economic growth is influenced by its human capital, natural resources, and techno\logical advancements. However, the relationship between these factors is complex and can be described u\sing the following equation: \( Y = f\( H, R, T \ \)). If the country's human capital increases by 10% and its natural resources decrease by 5%, while techno\logical advancements remain cons\tant, what is the expected change in economic growth, assuming the partial derivatives are: \( ∂Y/∂H = 0.8 \), \( ∂Y/∂R = -0.2 \), and \( ∂Y/∂T = 0.3 \)?

Answer Options

Correct Answer A. -3%
B. -1%
C. 1%
D. 3%
Correct Answer
A
Correct Option:
-3%

About This Question

This is Post Utme Esut 2017 Economics Question 16. It is one of the objective questions from the 2017 Post Utme Esut Economics examination.

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