Neco 2023 Economics Question 31
Practice objective / multiple choice question 31 from the 2023 Neco Economics examination.
In a country with a labour force of 8 million, the unemployment rate is \(12\%\). The unemployment is composed of \(5\%\) frictional, \(4\%\) structural and the remainder cyclical. A training programme reduces frictional unemployment by \(1.5\) percentage points, while structural unemployment rises by \(0.5\) points. Assuming cyclical unemployment remains unchanged, what is the new overall unemployment rate (to one decimal place)?
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About This Question
This is Neco 2023 Economics Question 31. It is one of the objective questions from the 2023 Neco Economics examination.
Difficulty level: Medium .
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