Post Utme Madonna University 2021 Economics Question 26
Practice objective / multiple choice question 26 from the 2021 Post Utme Madonna University Economics examination.
A country's GDP grows at a rate of 5% per annum, while its population grows at a rate of 2% per annum. Assuming that the growth rate of GDP is directly proportional to the growth rate of population, calculate the elasticity of GDP with respect to population.
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About This Question
This is Post Utme Madonna University 2021 Economics Question 26. It is one of the objective questions from the 2021 Post Utme Madonna University Economics examination.
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