Neco 2017 Government Question 30

Practice objective / multiple choice question 30 from the 2017 Neco Government examination.

Neco 2017 Government Objective / Multiple Choice Hard Difficulty
Question 30 NECO • 2017 • GOVERNMENT • objective

The International Monetary Fund (IMF) allocates voting power using the quota formula \(Q = 0.5 \times (\text{GDP share \%}) + 0.3 \times (\text{Population share \%}) + 0.2 \times (\text{Reserve holdings \%})\). Country X has a GDP share of 2.5 %, population share of 1.8 % and reserve holdings of 0.9 %. Country Y has a GDP share of 1.2 %, population share of 2.5 % and reserve holdings of 1.5 %. (i) Compute each country's voting power percentage (rounded to two decimal places). (ii) If a reform requires a minimum voting power of 0.5 % to be eligible for a seat on the Executive Board, state whether each country qualifies.

Answer Options

A. Country X: 1.80 % voting power; Country Y: 1.70 % voting power. Both exceed the 0.5 % threshold, so both qualify.
Correct Answer B. Country X: 1.97 % voting power; Country Y: 1.65 % voting power. Both exceed the 0.5 % threshold, so both qualify.
C. Country X: 2.05 % voting power; Country Y: 1.55 % voting power. Both exceed the 0.5 % threshold, so both qualify.
D. Country X: 1.97 % voting power; Country Y: 1.65 % voting power. Only Country X exceeds the 0.5 % threshold, so only it qualifies.
Correct Answer
B
Correct Option:
Country X: 1.97 % voting power; Country Y: 1.65 % voting power. Both exceed the 0.5 % threshold, so both qualify.

About This Question

This is Neco 2017 Government Question 30. It is one of the objective questions from the 2017 Neco Government examination.

Difficulty level: Hard .

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