Question 1

-The labor force participation rate is the ratio of

Accepted Answer

The labor force participation rate is calculated by dividing the labor force (the sum of those who are employed and those who are unemployed but seeking work) by the working-age population (typically those aged 16 and over who are not institutionalized) and then multiplying by 100 to express it as a percentage.

Question 2

Suppose the labor force in Tiny Town is 100 people. If the ________ in Tiny Town is 150 people, the labor force participation rate equals ________ multiplied by 100.

Accepted Answer

The labor force participation rate is calculated as the labor force divided by the working age population, then multiplied by 100. If the labor force is 100 and the working age population is 150, the rate is (100/150)*100.

Question 3

-The labor force participation rate is percentage of the ________ who are in the labor force.

Accepted Answer

The labor force participation rate is the percentage of the working-age population (typically those aged 16 or older who are not institutionalized) who are either employed or actively looking for work.

Question 4

If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed and 150 million employed, the labor force participation rate is

Accepted Answer

The labor force participation rate is calculated as the labor force divided by the population eligible to participate in the labor force. Here, the labor force includes both employed and unemployed individuals, totaling 160 million (150 million employed + 10 million unemployed). The eligible population excludes those under 16 and institutionalized, and those not in the labor force, which is 160 million (300 million - 70 million under 16 and institutionalized - 70 million not in the labor force). Therefore, the labor force participation rate is (160 million / 160 million) * 100 = 100%. However, the provided options do not include 100%, indicating a possible misunderstanding in the question's setup or the options given. Based on the given data and standard calculations, the expected answer would be 100%, but since that's not an option and assuming a mistake in the interpretation, none of the provided choices accurately reflect the correct calculation.

Question 5

-In the above table, the labor force participation rate is

Accepted Answer

The labor force participation rate is calculated by dividing the labor force by the total population eligible to participate in the labor force (usually adults 16 years and older not institutionalized) and then multiplying by 100 to get a percentage. Without specific numbers from a table, the correct answer cannot be determined from the provided options. However, based on the choices given, if the correct answer is assumed to be among them, C (62 percent) is selected as the placeholder correct answer. In practice, to find the actual labor force participation rate, you would need the specific figures for the labor force and the eligible population.

Question 6

In September 2014, the labor force participation rate fell from 62.8 percent to 62.7 percent. This change could have been caused by

Accepted Answer

The labor force participation rate measures the proportion of the working-age population that is either employed or actively looking for work. A decrease in this rate could be caused by unemployed workers giving up on looking for a job, as they would no longer be counted as part of the labor force.

Question 7

-In the above table, the size of the labor force is

Accepted Answer

The answer of 
-In the above table, the size of...

Question 8

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

Accepted Answer

The labor force participation rate is calculated by dividing the sum of all employed and unemployed persons (I and II) by the working age population (IV) and then multiplying by 100 to get a percentage. The general population (III) is not used in this calculation.

Question 9

From 1980 to 2000 the labor force participation rate generally ________ and from 2000 to 2015 the rate generally ________.

Accepted Answer

From 1980 to 2000, the labor force participation rate generally increased, largely due to more women entering the workforce. From 2000 to 2015, the rate generally decreased, partly due to the aging population and other economic factors.

Question 10

-The labor force participation rate shows the percentage of

Accepted Answer

The labor force participation rate is a measure of the proportion of the non-institutionalized working-age population that is either employed or actively seeking employment. It includes both people who are working and those who are looking for work but excludes those not actively seeking employment.

Question 11

-In the above table, the working age population is

Accepted Answer

The working age population is typically the total number of people aged 15-64. In this context, the correct choice is 225 million, which is likely the total working age population given the options.

Question 12

From 1980 to 2000 the employment-to-population ratio generally ________ and from 2000 to 2015 the ratio generally ________.

Accepted Answer

From 1980 to 2000, the employment-to-population ratio generally increased due to factors like the entry of the baby boom generation into the workforce, increased female labor force participation, and economic expansion. From 2000 to 2015, the ratio generally decreased, influenced by the 2008 financial crisis, higher unemployment rates, and demographic shifts such as aging populations.

Question 13

-The labor force participation rate is calculated as the

Accepted Answer

The labor force participation rate is calculated by dividing the labor force (the sum of those who are employed and those who are unemployed but seeking work) by the working age population (typically those aged 16 and over who are not institutionalized) and then multiplying by 100 to get a percentage.

Question 14

If the labor force participation rate is rising and the working-age population is not changing, then the

Accepted Answer

The labor force participation rate measures the proportion of the working-age population that is either working or actively looking for work. If this rate is rising while the working-age population remains constant, it means a greater share of that population is either working or seeking work, thus increasing the size of the labor force.

Question 15

In an economy, 40 million people are employed, 2 million are unemployed, and 8 million are not in the labor force. What is the labor force participation rate?

Accepted Answer

The labor force participation rate is calculated as the labor force divided by the total working-age population (labor force + those not in the labor force) times 100. Here, the labor force is 40 million employed + 2 million unemployed = 42 million. The total working-age population is 42 million (labor force) + 8 million (not in the labor force) = 50 million. Thus, the labor force participation rate is (42 million / 50 million) * 100 = 84 percent.

Question 16

Suppose the population is 220 million people, the labor force is 150 million people, the number of people employed is 130 million and the working-age population is 175 million people. What is the labor force participation rate?

Accepted Answer

The labor force participation rate is the percentage of the working-age population that is in the labor force. In this case, the working-age population is 175 million people and the labor force is 150 million people, so the labor force participation rate is 150 / 175 * 100 = 85.7%.

Question 17

If the number of people unemployed is 100, the number of people employed is 1,000, and the working-age population is 1,400, then the labor force participation rate is

Accepted Answer

The labor force participation rate is the percentage of the working-age population that is in the labor force. The labor force is the sum of the employed and unemployed. In this case, the labor force is 1,000 + 100 = 1,100. The working-age population is 1,400. Therefore, the labor force participation rate is 1,100 / 1,400 * 100 = 78.6%.

Question 18

If the people who take early retirement are not counted in the working-age population, then

Accepted Answer

The answer of If the people who take early retirement...

Question 19

Suppose there are currently 100 people unemployed, 1,500 people employed, and 2,000 people in the working age population. The labor force participation rate equals 100 times

Accepted Answer

The labor force participation rate is calculated as the labor force divided by the working age population, then multiplied by 100. The labor force includes both employed and unemployed individuals, so in this case, it is 1,500 (employed) + 100 (unemployed) = 1,600. The working age population is 2,000. Therefore, the labor force participation rate is (1,600 / 2,000) * 100.

Question 20

-In the above table, the unemployment rate is

Accepted Answer

The answer of 
-In the above table, the unemployment rate...

Quiz 5: Monitoring Jobs and Inflation