Scenario 28-1
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed,3 million people unemployed,1 million discouraged workers,and 1 million people who are either students,homemakers,retirees,or other people not seeking employment.
-Refer to Scenario 28-1.What is the total labor force?
A)25 million
B)28 million
C)29 million
D)30 million

Question

Quizplus · Accepted Answer

The total labor force is the sum of employed and unemployed workers, which is 25 million + 3 million = 28 million. The discouraged workers and other non-seeking individuals are not part of the labor force.

Scenario 28-1 Suppose That the Bureau of Labor Statistics Reports That the That