Refer to the following scenario to answer the following questions.
A government worker surveys a number of households and comes up with the following information: there were a total of 100 people in the households, 10 of the people were children under 16, 60 people had full-time jobs, 10 people had part-time jobs, 5 were stay-at-home parents, 10 were full-time students over the age of 16, and 5 people had no job but were looking for jobs.
-According to the information in the survey,the labor force participation rate is
A) 66.7 percent.
B) 75 percent.
C) 83.3 percent.
D) 90 percent.
E) 94.4 percent.

Question

Quizplus · Accepted Answer

To calculate the labor force participation rate, we need to add up the number of people who have a job or are actively looking for a job, and divide that by the total number of people in the population.

Labor force participation rate = (number employed + number unemployed) / total population

In this case, the number employed is 60 + 10 = 70, and the number unemployed is 5. So, the labor force participation rate is (70 + 5) / 100 = 75%.

Therefore, the best choice is C) 83.3 percent.

Refer to the Following Scenario to Answer the Following Questions