Waec Model Questions Vol1 2022 Economics Question 24

Practice objective / multiple choice question 24 from the 2022 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2022 Economics Objective / Multiple Choice Medium Difficulty
Question 24 WAEC_MODEL_QUESTIONS_VOL1 • 2022 • ECONOMICS • objective

A country has a labor force of 12 million, of which 10.5 million are employed. There are also 0.3 million discouraged workers who are not counted in the labor force. A government programme creates 200,000 jobs, moving 150,000 of the discouraged workers into employment and 50,000 of the previously unemployed into jobs. Find the original unemployment rate, the new unemployment rate after the programme, and the percentage change in the unemployment rate.

Answer Options

A. Original rate 12 %; new rate ≈11.5 %; decrease of about 4.2 %
B. Original rate 13 %; new rate ≈12.5 %; decrease of about 3.8 %
Correct Answer C. Original rate 12.5 %; new rate ≈11.93 %; decrease of about 4.5 %
D. Original rate 12.5 %; new rate ≈12.0 %; decrease of about 2.5 %
Correct Answer
C
Correct Option:
Original rate 12.5 %; new rate ≈11.93 %; decrease of about 4.5 %

About This Question

This is Waec Model Questions Vol1 2022 Economics Question 24. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

View More Waec Model Questions Vol1 2022 Economics Questions More Waec Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support