Neco 2023 Economics Question 18

Practice objective / multiple choice question 18 from the 2023 Neco Economics examination.

Neco 2023 Economics Objective / Multiple Choice Hard Difficulty
Question 18 NECO • 2023 • ECONOMICS • objective

The following data are for the period 2015‑2020. Country A: real GDP grew from $150 billion to $210 billion; population grew from 30 million to 33 million. Country B: real GDP grew from $80 billion to $100 billion; population grew from 20 million to 22 million. (i) Calculate the average annual per‑capita real GDP growth rate for each country. (ii) Identify which country had the higher per‑capita growth. (iii) Did either country achieve the UN target of at least 2 % per‑capita real GDP growth per year?

Answer Options

A. Country A: ≈4.9 % per year; Country B: ≈2.6 % per year. Country B has the higher per‑capita growth. Neither country meets the UN target of at least 2 % per‑capita growth.
B. Country A: ≈5.2 % per year; Country B: ≈3.1 % per year. Country B has the higher per‑capita growth. Both countries exceed the UN target of at least 2 % per‑capita growth.
C. Country A: ≈3.5 % per year; Country B: ≈2.0 % per year. Country A has the higher per‑capita growth. Only Country A meets the UN target of at least 2 % per‑capita growth.
Correct Answer D. Country A: ≈4.9 % per year; Country B: ≈2.6 % per year. Country A has the higher per‑capita growth. Both countries meet the UN target of at least 2 % per‑capita growth.
Correct Answer
D
Correct Option:
Country A: ≈4.9 % per year; Country B: ≈2.6 % per year. Country A has the higher per‑capita growth. Both countries meet the UN target of at least 2 % per‑capita growth.

About This Question

This is Neco 2023 Economics Question 18. It is one of the objective questions from the 2023 Neco Economics examination.

Difficulty level: Hard .

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