Neco 2023 Economics Question 33
Practice objective / multiple choice question 33 from the 2023 Neco Economics examination.
An economy has an observed unemployment rate of \(14\%\) while its natural rate (frictional + structural) is \(8\%\). A stimulus reduces cyclical unemployment by \(2.5\) percentage points but causes structural unemployment to rise by \(0.8\) points. What is the new observed unemployment rate (to one decimal place)?
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About This Question
This is Neco 2023 Economics Question 33. It is one of the objective questions from the 2023 Neco Economics examination.
Difficulty level: Medium .
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