Neco 2023 Economics Question 49
Practice objective / multiple choice question 49 from the 2023 Neco Economics examination.
In 2021 Nigeria's export price index (EPI) was 115 and its import price index (IPI) was 145 (base year 2010 = 100). In 2022 the indices rose to EPI = 120 and IPI = 150. Nominal GDP increased from \(2.5\) trillion ₦ to \(2.7\) trillion ₦ over the same period.\n\nCalculate the real GDP growth rate for 2022 after adjusting for the change in terms of trade.
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About This Question
This is Neco 2023 Economics Question 49. It is one of the objective questions from the 2023 Neco Economics examination.
Difficulty level: Medium .
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