Waec Model Questions Vol1 2020 Economics Question 8

Practice objective / multiple choice question 8 from the 2020 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2020 Economics Objective / Multiple Choice Medium Difficulty
Question 8 WAEC_MODEL_QUESTIONS_VOL1 • 2020 • ECONOMICS • objective

In a country the total labour force is 10 million. The number of unemployed persons is 1.2 million, of which 0.4 million are frictionally unemployed and 0.3 million are structurally unemployed. Calculate: (i) the overall unemployment rate, (ii) the natural rate of unemployment and its percentage, (iii) the amount and percentage of cyclical unemployment.

Answer Options

A. Unemployment rate 12%; natural unemployment 0.8 million (8%); cyclical unemployment 0.4 million (4%)
Correct Answer B. Unemployment rate 12%; natural unemployment 0.7 million (7%); cyclical unemployment 0.5 million (5%)
C. Unemployment rate 11%; natural unemployment 0.7 million (7%); cyclical unemployment 0.4 million (4%)
D. Unemployment rate 13%; natural unemployment 0.6 million (6%); cyclical unemployment 0.6 million (6%)
Correct Answer
B
Correct Option:
Unemployment rate 12%; natural unemployment 0.7 million (7%); cyclical unemployment 0.5 million (5%)

About This Question

This is Waec Model Questions Vol1 2020 Economics Question 8. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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