Waec Model Questions Vol1 2022 Economics Question 3
Practice objective / multiple choice question 3 from the 2022 Waec Model Questions Vol1 Economics examination.
In an economy the labour force is 20 million and the number of unemployed is 1.2 million. Of the unemployed, 30 % are frictionally unemployed and the rest are structurally unemployed. The government introduces a training programme that reduces structural unemployment by 20 % (relative reduction). Assuming the labour force remains unchanged, calculate the new unemployment rate (to two decimal places) and the change in the natural rate of unemployment (in percentage points).
Answer Options
About This Question
This is Waec Model Questions Vol1 2022 Economics Question 3. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.