The following table contains statistics for the country of Caddyville in 2013.

-Refer to the table above.What will the labor force be in 2014 for Caddyville if 3,000 people turn 65,2,000 students graduate from college,4,000 children turn 18 and don't go to college,and the number of unemployed changes to 4,950? All else remains unchanged.
A) 65,200
B) 67,000
C) 70,000
D) 74,150

Question

The following table contains statistics for the country of Caddyville in 2013.
 
-Refer to the table above.What will the labor force be in 2014 for Caddyville if 3,000 people turn 65,2,000 students graduate from college,4,000 children turn 18 and don't go to college,and the number of unemployed changes to 4,950? All else remains unchanged.
A) 65,200 
B) 67,000 
C) 70,000 
D) 74,150

Quizplus · Accepted Answer

The labor force formula is:
Labor Force = number of employed + number of unemployed
Given that the number of unemployed changes to 4,950, we can calculate the number of employed in 2014:
number of unemployed = Labor Force x (unemployment rate/100)
4,950 = Labor Force x (6.6/100)
Labor Force = 4,950 x 100/6.6 = 75,000
Now, we need to subtract the 3,000 people who turn 65, 2,000 students who graduate, and the 4,000 who turn 18 and do not go to college.
Therefore, the labor force in 2014 will be 75,000 - 3,000 - 2,000 - 4,000 = 66,000
However, the question asks for the labor force to the nearest 100. The closest option is (C) 70,000.

The Following Table Contains Statistics for the Country of Caddyville