During the year 2013, the real gross domestic product of a country increased by 8% over the preceding year. During this year population of the country also got increased by 1.6%. In that particular country, the rate of g
CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · June 2013
During the year 2013, the real gross domestic product of a country increased by 8% over the preceding year. During this year population of the country also got increased by 1.6%. In that particular country, the rate of growth of per capita income during 2013 would be
Answer & Explanation:
Correct Answer: Option (A)
Correct answer: (A) 6.4%. Using the examination approximation, per-capita growth is approximately 8% − 1.6% = 6.4%; the exact compounded rate is about 6.30%.
Topics: Business Economics
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