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2.3 Economic performance

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Question 42

An economy has a total labor force of 20 million20\text{ million}20 million people. Recent labor market data indicates that 500,000 500,000\,500,000 people are frictionally unemployed, 700,000 700,000\,700,000 people are structurally unemployed, and 800,000 800,000\,800,000 people are cyclically unemployed due to a temporary recession.

Based on this data, the natural rate of unemployment (NRU) for this economy is:

A

3.5%3.5\%3.5%

B

6.0%6.0\%6.0%

C

6.5%6.5\%6.5%

D

10.0%10.0\%10.0%

Markscheme

2.3 Economic performance Questions

  1. A Level
  2. /Economics
  3. /2.3 Economic performance

327 exam-style questions on AQA A Level Economics 2.3 Economic performance, covering 2.3.1 Economic growth and the economic cycle, 2.3.2 Employment and unemployment, 2.3.3 Inflation and deflation, and 2.3.4 Possible conflicts between macroeconomic policy objectives. Each one has a worked solution and a mark scheme showing where the marks go.

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