Neco Model Questions Vol1 2022 Economics Question 3

Practice objective / multiple choice question 3 from the 2022 Neco Model Questions Vol1 Economics examination.

Neco Model Questions Vol1 2022 Economics Objective / Multiple Choice Medium Difficulty
Question 3 NECO_MODEL_QUESTIONS_VOL1 • 2022 • ECONOMICS • objective

A country has a labour force of 8 million people. The actual unemployment rate is 9 %. The frictional unemployment rate is 2 % and the structural unemployment rate is 3 %. Compute (a) the total number of unemployed persons, (b) the number of cyclical unemployed persons, and (c) the number of employed persons.

Answer Options

Correct Answer A. Total unemployed = 720000; Cyclical unemployed = 320000; Employed = 7280000
B. Total unemployed = 720000; Cyclical unemployed = 280000; Employed = 7280000
C. Total unemployed = 650000; Cyclical unemployed = 250000; Employed = 7350000
D. Total unemployed = 800000; Cyclical unemployed = 400000; Employed = 7200000
Correct Answer
A
Correct Option:
Total unemployed = 720000; Cyclical unemployed = 320000; Employed = 7280000

About This Question

This is Neco Model Questions Vol1 2022 Economics Question 3. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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