Waec Model Questions Vol1 2017 Economics Question 8
Practice objective / multiple choice question 8 from the 2017 Waec Model Questions Vol1 Economics examination.
In 2022 the total labour force of a country is 12 million and the unemployment rate is 8 %. Frictional unemployment accounts for 2 % and structural unemployment for 3 % of the labour force.\n(a) Calculate the cyclical unemployment rate and the number of people unemployed due to cyclical factors.\n(b) If a policy reduces frictional unemployment by 0.5 percentage points and structural unemployment by 0.2 percentage points while the labour force remains unchanged, what is the new overall unemployment rate?
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This is Waec Model Questions Vol1 2017 Economics Question 8. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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