Which of the following labor market statistics best indicates the amount of labor that is available to the economy from a given working-age population?
A)unemployment rate
B)discouraged-worker ratio
C)labor force participation rate
D)the ratio of minimum wage to inflation

Question

Quizplus · Accepted Answer

The labor force participation rate measures the percentage of the working-age population that is either employed or actively seeking employment. This indicates the amount of labor that is available to the economy from a given working-age population. The other options are not directly related to measuring the amount of labor available to the economy.

Which of the Following Labor Market Statistics Best Indicates the Amount