Gce Model Questions Vol1 2020 Economics Question 35

Practice objective / multiple choice question 35 from the 2020 Gce Model Questions Vol1 Economics examination.

Gce Model Questions Vol1 2020 Economics Objective / Multiple Choice Medium Difficulty
Question 35 GCE_MODEL_QUESTIONS_VOL1 • 2020 • ECONOMICS • objective

In an economy the total labour force is 10 million and the number of people employed is 8.5 million. The natural rate of unemployment is estimated to be 5 %.\n\n(a) Calculate the actual unemployment rate.\n(b) Determine the number of people who are unemployed due to cyclical factors (i.e., the cyclical unemployment).

Answer Options

A. a) 20 %, b) 1.5 million people
Correct Answer B. a) 15 %, b) 1 million people
C. a) 12 %, b) 0.6 million people
D. a) 15 %, b) 0.5 million people
Correct Answer
B
Correct Option:
a) 15 %, b) 1 million people

About This Question

This is Gce Model Questions Vol1 2020 Economics Question 35. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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