Neco Model Questions Vol1 2020 Economics Question 33
Practice objective / multiple choice question 33 from the 2020 Neco Model Questions Vol1 Economics examination.
Okun's law for a certain country states that a 2\% increase in real GDP reduces the unemployment rate by 1\%. If the economy's real GDP grew by \(5\%\) this year and the unemployment rate at the beginning of the year was \(10\%\), what is the expected unemployment rate at the end of the year?
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About This Question
This is Neco Model Questions Vol1 2020 Economics Question 33. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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