Gce Model Questions Vol1 2024 Economics Question 9
Practice objective / multiple choice question 9 from the 2024 Gce Model Questions Vol1 Economics examination.
The labour force of a country is 10 million and the current unemployment rate is 8 %. The natural rate of unemployment is 5 %. A fiscal stimulus reduces cyclical unemployment by 1.2 percentage points, but structural unemployment rises by 0.3 percentage points. What is the new unemployment rate (to one decimal place) and how many people are unemployed now?
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About This Question
This is Gce Model Questions Vol1 2024 Economics Question 9. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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