Ask Question
BusinessBusiness
13 February, 10:23

Suppose the working-age population of country a is 200 million, the number employed is 130 million, and the number unemployed is 10 million. what is the labor force participation rate?

+1
Answers (1)
  1. 13 February, 10:37
    0
    The formula for the labor force participation rate is

    labor force/adult population

    Adult population is referring to the overall population, in this case it would be the working-age population. So adult population = 200 million

    Labor force is referring to the total number employed (in the labor force). So labor force = 130 million

    The number unemployed does not play into this because it is just apart of the adult population that isn't in the labor force (we're given the specific labor force, so we don't need to calculate anything that has to do with the unemployment vs working-age).

    Now we have 130 million (labor force) / 200 million (adult population)

    We can simplify this to 13/20, which can then be convert into a decimal, 0.65

    The labor force participation rate is 65%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose the working-age population of country a is 200 million, the number employed is 130 million, and the number unemployed is 10 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which do you consider more important as far as a restaurant is concerned-courteous, prompt service or a quality product
Answers (1)
West County Bank agrees to lend Pharoah Company $432000 on January 1. Pharoah Company signs a $432000, 6%, 6-month note.
Answers (1)
It is hard to determine if the bank's Web site is secure.
Answers (1)
Which of the following is characteristic of work groups and NOT work teams? goal of collective performance neutral or negative synergy individual and mutual accountability complimentary skills none of the above
Answers (2)
Place the steps of the communication process in the correct order. Encoding Decoding Feedback Transmitting Thinking Receiving
Answers (1)
New Questions in Business
Adamson Company manufactures four lines of garden tools. As a result of an activity analysis, the accounting department has identified eight activity cost pools.
Answers (1)
Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent cases. Click here to access the 2019 tax rate schedule. If required, round the tax liability the nearest dollar.
Answers (1)
For a portfolio of 40 randomly selected stocks, which of the following is most likely to be true? a. The beta of the portfolio is less than the weighted average of the betas of the individual stocks. b.
Answers (1)
What publication can give you an idea of how administrative jobs are going to change in the future? A: Office Pro B: Occupational Outlook Handbook C: From 9 to 5 D: The Executary
Answers (1)
At a four-way stop, if two cars arrive at the intersection at the same time: A) the larger car has the right of way B) the vehicle on the right yields to the vehicle on the left C) the smaller car has the right of way D) the vehicle on the left
Answers (1)
Home » Business » Suppose the working-age population of country a is 200 million, the number employed is 130 million, and the number unemployed is 10 million. what is the labor force participation rate?
Sign Up Forgot Password?