Waec Model Questions Vol1 2018 Economics Question 30
Practice objective / multiple choice question 30 from the 2018 Waec Model Questions Vol1 Economics examination.
Country X has a current GNI per capita of $2,000 and a literacy rate of 60 %. The government plans to raise public spending on education from 3 % to 5 % of GDP. Empirical evidence suggests that each 1 percentage‑point increase in education spending raises the literacy rate by 4 percentage points, and each 2‑percentage‑point rise in literacy raises GNI per capita by 5 %. Assuming no other changes, what will be the new GNI per capita after the policy is implemented?
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This is Waec Model Questions Vol1 2018 Economics Question 30. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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