If the Number Employed Is 11 Million, the Number Unemployed

question 84

Multiple Choice

If the number employed is 11 million, the number unemployed is 0.6 million, and the working-age population is 16 million, then the labour force participation rate is:

• A)65.0%.
• B)72.5%.
• C)68.75%.
• D)71.4%.

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Definitions:

Moving Average Model

A statistical model used for forecasting future values based on past averages of data points.

Three-period Moving Average

A method of smoothing time series data by calculating the average of three consecutive values at a time.

Time Series

A Time Series is a sequence of data points, typically measured at successive points in time, used for forecasting future trends.

Mean Absolute Percentage Error

A measure of prediction accuracy in statistics that calculates the average absolute percentage difference between predicted and actual values.