In a Country with a Working-Age Population of 300 Million

question 384

Multiple Choice

In a country with a working-age population of 300 million, 230 million workers are employed and 40 million workers are unemployed. What is the labor force participation rate?

• A) 5 percent
• B) 90 percent
• C) 65 percent
• D) 100 percent

---

Definitions:

Job Evaluation

A systematic process used to determine the relative worth of jobs within an organization by analyzing their duties, responsibilities, and requirements.

Quantitatively

Pertaining to the measurement or assessment of quantities or amounts, often involving numerical data and statistical methods.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, often used as an indicator of inflation.

Market Basket

A selected set of goods and services used to track changes in prices, often for the purpose of measuring inflation or the cost of living.