The Labor Force Participation Rate Is the Number of People

question 110

Multiple Choice

The labor force participation rate is the number of people in the labor force divided by the number of people in the country that are of working age and not institutionalized.The BLS reported in February of 2012 that the labor force participation rate in the United States was 63.7% (Calculatedrisk.com) .A marketing company asks 120 working-age people if they either have a job or are looking for a job,or,in other words,whether they are in the labor force. Refer to Exhibit 7-8.What is the probability that less than 60% of those surveyed are members of the labor force?

• A)0.2005
• B)0.7995
• C)0.8400
• D)0.9706

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Definitions:

Superego

In psychoanalytic theory, the part of the personality that acts as a moral center, enforcing societal norms and values.

Id

In psychoanalysis, the part of the mind in which innate instinctive impulses and primary processes are manifest.

Oral Stage

In Freudian psychoanalysis, the first stage of psychosexual development during infancy, where the mouth is the focus of libido and satisfaction comes from sucking and swallowing.

Phallic Stage

The period between the third and fourth years when the focus of sexual pleasure shifts to the genitals.