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

question 126

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

---

Definitions:

Production Possibility Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources), representing the trade-offs of choosing one good over another.

Gains From Trade

The benefits obtained by countries or individuals from engaging in international trade, allowing for specialization and more efficient production.

Fewer Resources

A decrease in the availability of inputs required for production or consumption, often leading to increased competition or prices.

Production Possibility Frontier

A graph that shows the highest possible mix of two goods that can be made with the existing resources and technology.