Table 20-1
Consider the data above for a simple economy.
-Refer to Table 20-1. The labor force participation rate for this simple economy equals
A) (1,000/1,100) × 100.
B) (1,000/15,000) × 100.
C) (1,100/15,000) × 100.
D) (1,100/20,000) × 100.

Question

Table 20-1
  Consider the data above for a simple economy.
-Refer to Table 20-1. The labor force participation rate for this simple economy equals
A) (1,000/1,100) × 100. 
B) (1,000/15,000) × 100. 
C) (1,100/15,000) × 100. 
D) (1,100/20,000) × 100.

Quizplus · Accepted Answer

The labor force participation rate is calculated by dividing the labor force by the working-age population and then multiplying by 100. Here, the labor force is 1,100 and the working-age population is 15,000.

Table 20-1 Consider the Data Above for a Simple Economy