Neco 2024 Economics Question 38
Practice objective / multiple choice question 38 from the 2024 Neco Economics examination.
A country's real GDP grows at \(5\%\) per year and its population at \(2\%\) per year. A development programme raises the investment share of GDP from \(20\%\) to \(25\%\), increasing the multiplier from \(1.8\) to \(2.0\). This adds an extra \(1.5\%\) to real GDP growth each year for the next five years. Assuming the extra growth applies for the whole five‑year period, what is the percentage increase in real GDP per‑capita after five years compared with the initial level?
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About This Question
This is Neco 2024 Economics Question 38. It is one of the objective questions from the 2024 Neco Economics examination.
Difficulty level: Hard .
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