Consider an economy made up of 500 people (i.e., the working-age population). Of which, 400 are employed, 20 are unemployed and looking for jobs, 30 are full-time students, 35 are discouraged workers, and 15 are retired, under-aged and other individuals. What is the labor force participation rate? 80% O 84% O 90% O 97% A

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter13: Earnings, Productivity, And The Job Market
Section: Chapter Questions
Problem 11CQ
Question
Consider an economy made up of 500 people (i.e., the working-age population). Of which,
400 are employed, 20 are unemployed and looking for jobs, 30 are full-time students, 35 are
discouraged workers, and 15 are retired, under-aged and other individuals. What is the labor
force participation rate?
80%
O 84%
O 90%
O 97%
A
Transcribed Image Text:Consider an economy made up of 500 people (i.e., the working-age population). Of which, 400 are employed, 20 are unemployed and looking for jobs, 30 are full-time students, 35 are discouraged workers, and 15 are retired, under-aged and other individuals. What is the labor force participation rate? 80% O 84% O 90% O 97% A
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