Waec Model Questions Vol1 2024 Economics Question 41
Practice objective / multiple choice question 41 from the 2024 Waec Model Questions Vol1 Economics examination.
In a developing economy, agriculture and manufacturing together constitute the total GDP. In 2020 agriculture contributed 40% of GDP and grew at 2% per annum, while manufacturing contributed 60% and grew at 5% per annum. The government plans to raise manufacturing's share to 70% by 2025 and wants the overall GDP growth rate to be exactly 4% per annum over the 2020‑2025 period. Assuming each sector's growth rate remains constant throughout the period, what constant annual growth rate (in percent) must manufacturing achieve to meet the target?
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About This Question
This is Waec Model Questions Vol1 2024 Economics Question 41. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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