Waec Model Questions Vol1 2025 Economics Question 48
Practice objective / multiple choice question 48 from the 2025 Waec Model Questions Vol1 Economics examination.
A developing country has a savings rate of 20% of GDP, a capital‑output ratio (k) of 4, a depreciation rate of 5% per year and a population growth rate of 2% per year. The government wishes to achieve an annual increase in real GDP per capita of 3%. Using the Harrod‑Domar model and keeping k and depreciation unchanged, by how many percentage points must the savings rate be increased to meet the target?
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This is Waec Model Questions Vol1 2025 Economics Question 48. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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