Suppose that in Workaholia the total population = 180 million, the number of unemployed = 5...

Question

Question

business economics

Answer 1

Answer #1

Answer

Formula :

Employment-Population ratio = Employed / Working Age Population

Employed = Labor force - unemployed = 55 million - 5 million = 50 million

Working age population = Population - People ineligible to work = 180 million - 60 million = 120 million.

Thus, Employment-Population ratio = Employed / Working Age Population = 50 million / 120 million = 0.417 = 41.7%

So, Employment-Population ratio = 41.7%

Hence, the correct answer is (d) 41.7%

Answer 2

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