Gce Model Questions Vol1 2017 Economics Question 31

Practice objective / multiple choice question 31 from the 2017 Gce Model Questions Vol1 Economics examination.

Gce Model Questions Vol1 2017 Economics Objective / Multiple Choice Medium Difficulty
Question 31 GCE_MODEL_QUESTIONS_VOL1 • 2017 • ECONOMICS • objective

The economy has a labour force of 20 million. The actual unemployment rate is (9%). The frictional unemployment rate is (2%) of the labour force and the structural unemployment rate is (3%) of the labour force. Calculate (a) the number of people who are cyclically unemployed and (b) what percentage this represents of the total unemployed.

Answer Options

Correct Answer A. 0.8 million people; 44.4 % of the unemployed
B. 1.0 million people; 55.6 % of the unemployed
C. 0.6 million people; 33.3 % of the unemployed
D. 0.9 million people; 50.0 % of the unemployed
Correct Answer
A
Correct Option:
0.8 million people; 44.4 % of the unemployed

About This Question

This is Gce Model Questions Vol1 2017 Economics Question 31. It is one of the objective questions from the 2017 Gce Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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