Use the following table to answer the following questions:

-According to the table,the labor force participation rate in this economy is equal to
A) 4.9 percent.
B) 92.2 percent.
C) 63.4 percent.
D) 7.8 percent.
E) 8.5 percent.

Question

Use the following table to answer the following questions:
 
-According to the table,the labor force participation rate in this economy is equal to
A) 4.9 percent. 
B) 92.2 percent. 
C) 63.4 percent. 
D) 7.8 percent. 
E) 8.5 percent.

Quizplus · Accepted Answer

The labor force participation rate is calculated by dividing the labor force (employed + unemployed) by the adult population (age 16 and over) and multiplying by 100. In this table, the labor force is 160 million and the adult population is 253 million. So, the labor force participation rate is (160/253) x 100 = 63.4 percent.

Use the Following Table to Answer the Following Questions