Neco 2017 Government Question 42
Practice objective / multiple choice question 42 from the 2017 Neco Government examination.
Nigeria's bilateral trade with Country Y recorded exports of \(\$3.2\) billion and imports of \(\$4.5\) billion in 2012. For the next three years (2013‑2015) both exports and imports grew at constant annual rates of 5 % and 4 % respectively. In 2015 Nigeria signed a preferential trade agreement that reduced import‑tariff growth to 2 % per year for 2016 and 2017, while export growth remained at 5 % per year. What was the trade deficit (imports minus exports) in 2017, expressed in billions of dollars to two decimal places?
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About This Question
This is Neco 2017 Government Question 42. It is one of the objective questions from the 2017 Neco Government examination.
Difficulty level: Hard .
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