Consider an economy with an adult population of 100,50 of whom hold jobs,10 of whom are looking for work,and 15 of whom are retired.The labor force participation rate is _____.

A) 100 percent
B) 60 percent
C) 50 percent
D) 40 percent
E) 10 percent

Question

James Gonzaga · Accepted Answer

Final Answer : B, Explanation :  The labor force participation rate is calculated by the following formula:Labor force participation rate = (Labor Force / Adult Population) * 100%In this case, the labor force includes those who hold jobs and those who are looking for work, which is a total of 50 + 10 = 60 people.Therefore, the labor force participation rate is (60 / 100) * 100% = 60%.

Consider an economy with an adult population of 100,50 of whom hold jobs,10 of whom are looking for work,and 15 of whom are retired.The labor force participation rate is _____.

A) 100 percent
B) 60 percent
C) 50 percent
D) 40 percent
E) 10 percent

Definitions

Learning Objectives

Learning Objectives

Related questions

Consider an economy with an adult population of 100,50 of whom hold jobs,10 of whom are looking for work,and 15 of whom are retired.The labor force participation rate is _____.A) 100 percentB) 60 percentC) 50 percentD) 40 percentE) 10 percent

Definitions

Learning Objectives

Learning Objectives

Related questions

Consider an economy with an adult population of 100,50 of whom hold jobs,10 of whom are looking for work,and 15 of whom are retired.The labor force participation rate is _____.

A) 100 percent
B) 60 percent
C) 50 percent
D) 40 percent
E) 10 percent