Gce Model Questions Vol1 2023 Economics Question 21
Practice objective / multiple choice question 21 from the 2023 Gce Model Questions Vol1 Economics examination.
Nominal GDP was ₦2 000 billion in Year 1 and ₦2 500 billion in Year 3. The Consumer Price Index (CPI) was 120 in Year 1, 126 in Year 2 and 135 in Year 3. Using Year 1 as the base (CPI = 100), calculate the average annual growth rate of real GDP between Year 1 and Year 3. Express your answer as a percentage to two decimal places.
Answer Options
About This Question
This is Gce Model Questions Vol1 2023 Economics Question 21. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.