During a year, a country's national income in money terms increased by $$\(5 \%\)$$, prices increased by $$\(4 \%\)$$ and the total population increased by $$\(2 \%\)$$. What was the approximate change in real income per head?

A.
a decrease of 1\%
B.
a decrease of \(2 \%\)
C.
an increase of \(1 \%\)
D.
an increase of 2\%
Economics
IGCSE&ALevel
CAIE
Exam No:9708_w24_qp_33 Year:2024 Question No:27

Answer:

A

Knowledge points:

4.4.1 meaning of economic growth
4.4.4 causes of economic growth

Solution:

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