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buywickless
18.03.2020 •
Business
The following information is given for an economy: Labor Force of an Economy Number of People (millions) Total population 35.4 Children under the age of 16 6.7 Retirees 6.6 Employed 18.5 Unemployed 1.9 Not actively seeking employment 1.2 Homemakers 0.5 Instructions: Round your answers to one decimal place. a. How much of the population is older than 16? million b. What is the size of the labor force? million c. What is the labor force participation rate? Type a message...
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Ответ:
a. 28.7 millions
b. 20.4 millions
c. 0.9231, or 92.31%
Explanation:
a. How much of the population is older than 16? million
Number of population older than 16 = Total population - Children under the age of 16 = 35.4 – 6.7 = 28.7 millions
b. What is the size of the labor force? million
Labour force = Employed + Unemployed = 18.5 + 1.9 = 20.4 millions
c. What is the labor force participation rate?
Working age population = Total population – Children under the age of 16 – Retirees = 35.4 – 6.7 – 6.6 = 22.1 millions
Labor force participation rate = Labor force ÷ Working age population = 20.4 ÷ 22.1 = 0.9231, or 92.31%
Ответ:
proper planning should be made before thinking of doing something