Neco Model Questions Vol1 2017 Economics Question 40
Practice objective / multiple choice question 40 from the 2017 Neco Model Questions Vol1 Economics examination.
An economy has a labour force of 10 million people and an unemployment rate of 12 %. The natural rate of unemployment is 6 %.\n\n(a) How many people are cyclically unemployed?\n(b) If the government creates 200 000 jobs that are taken only by the cyclically unemployed, what will be the new overall unemployment rate (assuming the labour force remains unchanged)?
Answer Options
About This Question
This is Neco Model Questions Vol1 2017 Economics Question 40. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.