Refer to the information provided in Table 22.3 below to answer the question(s) that follow.
Table 22.3
-Refer to Table 22.3. The labor-force participation rate is approximately
A) 12%.
B) 56%.
C) 80%.
D) 95%.

Question

Refer to the information provided in Table 22.3 below to answer the question(s) that follow.
Table 22.3 
-Refer to Table 22.3. The labor-force participation rate is approximately
A) 12%. 
B) 56%. 
C) 80%. 
D) 95%.

Quizplus · Accepted Answer

The labor-force participation rate can be calculated by dividing the labor force (which includes employed and unemployed individuals) by the total population. From the table, we can see that the labor force is 137.1 million and the total population is 245.5 million. Therefore, the labor-force participation rate is approximately (137.1/245.5) x 100 = 55.8%, which is closest to option B - 56%.

Refer to the Information Provided in Table 22