In 2016 the Bureau of Labor Statistics Reported That There

question 3

Multiple Choice

In 2016 the Bureau of Labor Statistics reported that there were 71.9 million people over age 25 who had at least a bachelor's degree.Of these 52.1 million were employed and 1.3 million were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

• A)72.5% and 1.8%
• B)72.5% and 2.4%
• C)74.3% and 1.8%
• D)74.3% and 2.4%

---

Definitions:

Rate of Interest

The percentage of a sum of money charged for its use, typically expressed annually, influencing borrowing, lending, and investment activities.

Saving and Investment

Refers to the act of setting aside a portion of current income for future use and allocating funds into ventures or assets expected to yield future returns.

Total Output

The total quantity of goods and services produced within an economy at a given overall price level and within a specified period.

Equilibrium

A state in which market supply and demand balance each other, and, as a result, prices become stable.