In a country with a working-age population of 20 million,13 million are employed,1.5 million are unemployed,and 1 million of the employed are working part-time,half of whom wish to work full-time.The labour force participation rate is
A)75.5 percent.
B)72.5 percent.
C)65 percent.
D)57.5 percent.
E)none of the above.

Question

Quizplus · Accepted Answer

The labour force participation rate is calculated by dividing the labour force (employed + unemployed) by the working-age population:

Labour force = employed + unemployed = 13 million + 1.5 million = 14.5 million

Labour force participation rate = (labour force / working-age population) x 100%

= (14.5 million / 20 million) x 100%

= 72.5%

Therefore, the correct answer is (B).

In a Country with a Working-Age Population of 20 Million,13