If in Pakistan real GDP/person in 2004 is Rs18,073 and real GDP/person is 2005 is Rs18,635 What is the growth rate of real output per person over this period ?
Correct answer: A. 3.1 percent
- A. 3.1 percent
- B. 3.0 percent
- C. 18.6 percent
- D. 18.0 percent
Explanation
The growth rate is calculated as (18,635 − 18,073) ÷ 18,073 × 100, which is about 3.1 percent. The larger percentages confuse the level of GDP per person with its rate of change.
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About Economy of Pakistan
Pakistan's economy is examined through agriculture, industry, services, trade, remittances, employment, population, poverty and regional development. The topic also covers GDP and national income, inflation, fiscal and monetary policy, taxation, public debt, the balance of payments, energy constraints and structural challenges, including the role of the State Bank and development planning.
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