Neco Model Questions Vol1 2021 Government Question 39
Practice objective / multiple choice question 39 from the 2021 Neco Model Questions Vol1 Government examination.
Nigeria's trade data for three consecutive years are as follows:\ - 2019: Exports = ₦12 billion, Imports = ₦30 billion.\ - 2020: Exports grew by 10 % relative to 2019, while Imports grew by 5 % relative to 2019.\ - 2021: Exports grew by 8 % relative to 2020, while Imports grew by 6 % relative to 2020.\ (a) Compute the average annual growth rate (compound annual growth rate) of the trade deficit over the period 2019‑2021.\ (b) If Imports are projected to increase by the same 6 % rate in 2022, by what percentage must Exports increase in 2022 (relative to 2021) for Nigeria to achieve a balanced trade (zero deficit) that year?
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This is Neco Model Questions Vol1 2021 Government Question 39. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Government examination.
Difficulty level: Hard .
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