Neco Model Questions Vol1 2019 Economics Question 12
Practice objective / multiple choice question 12 from the 2019 Neco Model Questions Vol1 Economics examination.
Country A and Country B both had a real GDP of \(\N{₦}500\) billion in 2020. Country A's GDP grew at \(5\%\) per year for the first three years and at \(2\%\) per year for the next two years. Country B's GDP grew at a constant annual rate \(r\) for five years and reached \(\N{₦}800\) billion in 2025. During the whole period, Country A's population grew at \(2\%\) per year while Country B's population grew at \(1\%\) per year. Determine which country had the higher average annual per‑capita GDP growth over the five‑year period.
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About This Question
This is Neco Model Questions Vol1 2019 Economics Question 12. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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