Neco 2018 Economics Question 14

Practice objective / multiple choice question 14 from the 2018 Neco Economics examination.

Neco 2018 Economics Objective / Multiple Choice Hard Difficulty
Question 14 NECO • 2018 • ECONOMICS • objective

The population of Country Y was 45 million in 2020. It grew at an annual rate of 2.5 % for the first five years and at 1.8 % per annum thereafter because of a new family‑planning policy. (i) In which calendar year will the population first exceed 60 million? (ii) What is the average annual growth rate over the whole period up to that year (expressed to two decimal places)?

Answer Options

A. (i) The population exceeds 60 million in the year 2034. (ii) The average annual growth rate over the 15‑year period is about 2.10 %.
Correct Answer B. (i) The population exceeds 60 million in the year 2035. (ii) The average annual growth rate over the 15‑year period is about 2.03 %.
C. (i) The population exceeds 60 million in the year 2035. (ii) The average annual growth rate over the 15‑year period is about 1.85 %.
D. (i) The population exceeds 60 million in the year 2036. (ii) The average annual growth rate over the 15‑year period is about 1.95 %.
Correct Answer
B
Correct Option:
(i) The population exceeds 60 million in the year 2035. (ii) The average annual growth rate over the 15‑year period is about 2.03 %.

About This Question

This is Neco 2018 Economics Question 14. It is one of the objective questions from the 2018 Neco Economics examination.

Difficulty level: Hard .

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