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WAEC Economics 2022 Question 5

Question 5

National Income

The mining sector of an economy contributes 60% to the Gross Domestic Product (GDP). If the GDP is $540, what is the contribution of the mining sector?

  1. A.$90.00
  2. B.$180.00
  3. C.$324.00
  4. D.$350.00
Show the answer and explanation

Answer: C ($324.00)

Explanation

60% of $540 = 0.6 × 540 = $324.