Waec Model Questions Vol1 2023 Economics Question 26
Practice objective / multiple choice question 26 from the 2023 Waec Model Questions Vol1 Economics examination.
Between year 0 and year 5, a country's real GDP rose from ₦2.5 trillion to ₦3.0 trillion while its population increased from 150 million to 165 million. The government plans to achieve a per‑capita real income growth of at least 4 % per annum for the next five years, assuming that the population will continue to grow at the same average annual rate observed in the first five years and that real GDP will grow at a constant annual rate r. What is the minimum constant annual real GDP growth rate (in percent, to one decimal place) that must be targeted to meet the per‑capita income goal?
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About This Question
This is Waec Model Questions Vol1 2023 Economics Question 26. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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