n an economy, the working-age population is 400 million. Of this total, 320.0 million workers are employed. 12.0 million work

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n an economy, the working-age population is 400 million. Of this total, 320.0 million workers are employed. 12.0 million work

ers are unemployed. 56.0 million workers are not available for work (homemakers, full-time students, etc.). 8.0 million workers are available for work but are discouraged and thus are not seeking work. 4.0 million workers are available for work but are not currently seeking work due to transportation or childcare problems. The labor force participation rate in this economy is

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1 answer:

MatroZZZ [7] · Answer 1 · 2022-01-17T00:26:26+03:00

Answer: 83%

Explanation:

The Labour Force Participation Rate is a measure that checks the activeness of a nation's workforce.

It is calculated by dividing the segment of the population that are either working or ACTIVELY seeking employment by the total number of working age people in the economy that are not in prison.

It is assumed that unemployed people are Actively seeking employment.

In the above scenario therefore, the active population are,

= (320 million employed + 12 million unemployed )/400 million

The rest of the population are either unavailable for work or not actively seeking employment.

= 332/400

= 0.83

= 83%

The labor force participation rate in this economy is 83%

n an​ economy, the​ working-age population is 400 million. Of this​ total, 320.0 million workers are employed. 12.0 million work

n an economy, the working-age population is 400 million. Of this total, 320.0 million workers are employed. 12.0 million work