Post Utme Summit University 2024 Economics Question 30

Practice objective / multiple choice question 30 from the 2024 Post Utme Summit University Economics examination.

Post Utme Summit University 2024 Economics Objective / Multiple Choice
Question 30 POST_UTME_SUMMIT_UNIVERSITY • 2024 • ECONOMICS • objective

A country's economic growth rate is given by the following equation: g = \( K - L \) / \( K + L \). If the country's capital stock (K) is ₦100 billion and labor force (L) is ₦80 billion, what is the economic growth rate?

Answer Options

A. 10%
Correct Answer B. 20%
C. 30%
D. 40%
Correct Answer
B
Correct Option:
20%

About This Question

This is Post Utme Summit University 2024 Economics Question 30. It is one of the objective questions from the 2024 Post Utme Summit University Economics examination.

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