Waec Model Questions Vol1 2024 Economics Question 1
Practice objective / multiple choice question 1 from the 2024 Waec Model Questions Vol1 Economics examination.
In a certain economy the total unemployment rate is 12 %. The cyclical unemployment rate is twice the frictional unemployment rate, and the structural unemployment rate is 1.5 times the frictional unemployment rate. What is the natural rate of unemployment (the sum of frictional and structural unemployment) expressed as a percentage (to two decimal places)?
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This is Waec Model Questions Vol1 2024 Economics Question 1. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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