Neco 2023 Economics Question 34

Practice objective / multiple choice question 34 from the 2023 Neco Economics examination.

Neco 2023 Economics Objective / Multiple Choice Hard Difficulty

Question 34 NECO • 2023 • ECONOMICS • objective

Country A had a GNI per capita of \$1,200\) in 2015. From 2015 to 2019 it grew at an average annual rate of $6\%$. In 2020 growth slowed to $2\%$. Starting in 2021 a development programme increased the growth rate by $1.5$ percentage points each year until the rate reached the original $6\%$ and then remained constant. Assuming annual compounding, calculate the GNI per capita in 2025 (rounded to two decimal places) and state whether it has crossed the World Bank lower‑middle‑income threshold of \$4,095\).

A. 1800.00, No

B. 2105.34, No

C. 1995.67, Yes

Correct Answer D. 2001.22, No

Correct Answer

Correct Option:

2001.22, No

This is Neco 2023 Economics Question 34. It is one of the objective questions from the 2023 Neco Economics examination.

Difficulty level: Hard .

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