Consider the following ecnomy: Total Population = 1000 Total Adult Civilian (non-institutionalized) Population = 700 Number...
Consider the following ecnomy:
Total Population = 1000
Total Adult Civilian (non-institutionalized) Population = 700
Number of people employed = 200
Number of people without jobs but looking for work = 80
What is the labor force participation rate in this economy?
Question 11 options:
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28% |
|
|
40% |
|
|
70% |
|
|
none of the above |
Homework Answers
Labor force participation rate = Labor force / Adult population * 100
Labor force = employed + unemployed = 200 + 80 = 280
Labor force participation rate = 280 / 700 * 100 = 40%
Add Answer to:
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