Neco Model Questions Vol1 2020 Economics Question 45
Practice objective / multiple choice question 45 from the 2020 Neco Model Questions Vol1 Economics examination.
In an economy the labour force is 10 million. Currently 8.5 million people are employed. Of the unemployed, 40 % are structurally unemployed, 30 % are frictionally unemployed and the remaining are cyclically unemployed. The government introduces two policies: (i) a training programme that moves 20 % of the structurally unemployed into employment, and (ii) a fiscal stimulus that cuts cyclical unemployment by half. After these policies are implemented, what is the new unemployment rate (expressed as a percentage, rounded to one decimal place)?
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About This Question
This is Neco Model Questions Vol1 2020 Economics Question 45. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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