Gce Model Questions Vol1 2023 Economics Question 37
Practice objective / multiple choice question 37 from the 2023 Gce Model Questions Vol1 Economics examination.
The labour force of an economy is 5 million. In year 1 the unemployment rate is 8 %. Of the unemployed, 40 % are structurally unemployed, 30 % are frictionally unemployed and the remaining 30 % are cyclically unemployed. A training programme reduces the structural unemployment rate by 0.5 percentage points and the frictional unemployment rate by 0.2 percentage points, while a recession raises the cyclical unemployment rate by 0.3 percentage points. What is the new overall unemployment rate, and how many additional workers become employed as a result of the programme?
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This is Gce Model Questions Vol1 2023 Economics Question 37. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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