Neco Model Questions Vol1 2024 Economics Question 20
Practice objective / multiple choice question 20 from the 2024 Neco Model Questions Vol1 Economics examination.
The labour force of a country is 10 million workers. The observed unemployment rate is 12 %, while the natural rate of unemployment is estimated at 7 %. Calculate the number of people who are unemployed due to cyclical factors (i.e., the cyclical unemployment) in millions.
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About This Question
This is Neco Model Questions Vol1 2024 Economics Question 20. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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