Neco 2024 Economics Question 34
Practice objective / multiple choice question 34 from the 2024 Neco Economics examination.
Country Y has a labour force of \(8\) million, of which \(6.8\) million are employed. Of the unemployed, 40 % are structural, 30 % are frictional and the remainder are cyclical. A policy reduces cyclical unemployment by 25 % (absolute reduction). Calculate the new unemployment rate (percentage to one decimal place).
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About This Question
This is Neco 2024 Economics Question 34. It is one of the objective questions from the 2024 Neco Economics examination.
Difficulty level: Medium .
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