Question

19) If the number of unemployed workers is 200 million, the number of employed workers is 300 million, and the working-age population is 800 million, what is the labor force participation rate? A) 12.5% B) 37.5% C) 40% D) 62.5%

Answer 1

Answer:

D) 62.5%

Explanation:

Labor force = Unemployed Workers + Employed Workers

Labor force = 200 million + 300 million

Labor force = 500 million

Working Age Population = 800 million

Labor force participation rate = ( Labor force / working age population ) x 100

Labor force participation rate = ( 500 million / 800 million ) x 100

Labor force participation rate = 0.625 x 100

Labor force participation rate = 62.50%