Which of the following pieces of information do you need to calculate the labor force participation rate?
I. the number of employed persons
II. the number of unemployed persons
III. the population
IV. the working age population
A) I and III
B) I and II
C) I, II and IV
D) I, II and III

Question

Quizplus · Accepted Answer

The labor force participation rate is the percentage of the working-age population that is either employed or unemployed but looking for work. Therefore, we need to know the number of employed persons (I), the number of unemployed persons (II), and the working age population (IV) to calculate the labor force participation rate. The population (III) alone does not give us any information about the labor force participation rate.

Which of the Following Pieces of Information Do You Need