You Are Given the Following Information About an Economy

question 152

Short Answer

You are given the following information about an economy:
Labor force: 167 million
Not in the labor force: 33 million
Employed: 145 million
Answer the following questions to one decimal point:
a.What is the unemployment rate?
b.What is the relevant population?
c.What is the labor force participation rate?

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Definitions:

Maiden Name

The surname a woman has before she gets married and often changes her surname.

Avoiding

A conflict management style of not paying attention to the conflict and not taking any action to resolve it.

Conflict Management

The practice of identifying and handling conflicts in a sensible, fair, and efficient manner.

Not Paying Attention

The lack of focus or concentration on a task or the present moment, often leading to errors or missed information.