Waec Model Questions Vol1 2017 Economics Question 43

Practice objective / multiple choice question 43 from the 2017 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2017 Economics Objective / Multiple Choice Hard Difficulty
Question 43 WAEC_MODEL_QUESTIONS_VOL1 • 2017 • ECONOMICS • objective

Country X had a real GDP of ₦10 trillion and a population of 50 million at the start of 2015. Real GDP grew at 5 % per annum and the population grew at 2 % per annum each year for the three‑year period 2015‑2018.\n(a) What was the per‑capita income in 2018 (in ₦, rounded to the nearest hundred)?\n(b) By what percentage did per‑capita income increase over the period?\n(c) What was the average annual growth rate of per‑capita income (to two decimal places)?\n(d) The national development plan requires an average annual per‑capita income growth of at least 3 %. Did Country X meet this target?

Answer Options

A. (a) ₦218,200 per person; (b) 9.10 %; (c) 3.05 % per annum; (d) Yes, the target was met
B. (a) ₦220,500 per person; (b) 9.70 %; (c) 3.20 % per annum; (d) Yes, the target was met
C. (a) ₦215,000 per person; (b) 8.50 %; (c) 2.80 % per annum; (d) No, the target was not met
Correct Answer D. (a) ₦218,200 per person; (b) 9.10 %; (c) 2.95 % per annum; (d) No, the target was not met
Correct Answer
D
Correct Option:
(a) ₦218,200 per person; (b) 9.10 %; (c) 2.95 % per annum; (d) No, the target was not met

About This Question

This is Waec Model Questions Vol1 2017 Economics Question 43. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Economics examination.

Difficulty level: Hard .

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