Neco 2025 Economics Question 50

Practice objective / multiple choice question 50 from the 2025 Neco Economics examination.

Neco 2025 Economics Objective / Multiple Choice Medium Difficulty
Question 50 NECO • 2025 • ECONOMICS • objective

In year 1 the price of a fixed consumption basket is ₦150 000. In year 2 the same basket costs ₦165 000. The nominal GDP rose from ₦2.5 trillion in year 1 to ₦2.75 trillion in year 2. (i) Compute the Consumer Price Index (CPI) for year 2 using year 1 as the base (CPI = 100 in year 1). (ii) Determine the inflation rate between the two years. (iii) Calculate the real GDP growth rate over the period.

Answer Options

A. CPI = 115; inflation rate = 15 %; real GDP growth rate = -5 %
B. CPI = 110; inflation rate = 5 %; real GDP growth rate = 5 %
C. CPI = 105; inflation rate = 5 %; real GDP growth rate = 5 %
Correct Answer D. CPI = 110; inflation rate = 10 %; real GDP growth rate = 0 %.
Correct Answer
D
Correct Option:
CPI = 110; inflation rate = 10 %; real GDP growth rate = 0 %.

About This Question

This is Neco 2025 Economics Question 50. It is one of the objective questions from the 2025 Neco Economics examination.

Difficulty level: Medium .

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