Neco Model Questions Vol1 2021 Economics Question 2

Practice objective / multiple choice question 2 from the 2021 Neco Model Questions Vol1 Economics examination.

Neco Model Questions Vol1 2021 Economics Objective / Multiple Choice Hard Difficulty
Question 2 NECO_MODEL_QUESTIONS_VOL1 • 2021 • ECONOMICS • objective

Country A had a population of 12 million in the year 2000, 15 million in 2010 and 18 million in 2020. \( (i) \) Assuming the population grew at a constant annual rate within each decade, calculate the annual growth rate for the periods 2000‑2010 and 2010‑2020 (expressed as a percentage to two decimal places). \( (ii) \) If the annual growth rate for the next decade (2020‑2030) is taken to be the average of the two rates found in part (i), in which year will the population reach 30 million? Assume the population continues to grow at this constant rate thereafter. Give the year to the nearest whole year.

Answer Options

Correct Answer A. Annual rates: 2.26 % (2000‑2010) and 1.84 % (2010‑2020); population reaches 30 million in 2045
B. Annual rates: 2.50 % (2000‑2010) and 1.70 % (2010‑2020); population reaches 30 million in 2050
C. Annual rates: 2.30 % (2000‑2010) and 1.90 % (2010‑2020); population reaches 30 million in 2040
D. Annual rates: 2.10 % (2000‑2010) and 2.00 % (2010‑2020); population reaches 30 million in 2038
Correct Answer
A
Correct Option:
Annual rates: 2.26 % (2000‑2010) and 1.84 % (2010‑2020); population reaches 30 million in 2045

About This Question

This is Neco Model Questions Vol1 2021 Economics Question 2. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Economics examination.

Difficulty level: Hard .

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