Refer to the information provided in Table 7.3 below to answer the questions that follow.
Table 7.3
-Refer to Table 7.3. The labor-force participation rate is approximately
A) 12%.
B) 56%.
C) 80%.
D) 95%.

Question

Refer to the information provided in Table 7.3 below to answer the questions that follow.
Table 7.3 
-Refer to Table 7.3. The labor-force participation rate is approximately
A) 12%. 
B) 56%. 
C) 80%. 
D) 95%.

Quizplus · Accepted Answer

The labor-force participation rate is calculated as the ratio of the labor force (employed plus unemployed) to the working-age population (above 15 years old) multiplied by 100. From Table 7.3, the labor force is 300 million and the working-age population is 535 million. Therefore, the labor-force participation rate is (300/535)*100 = 56%.

Refer to the Information Provided in Table 7