Scenario: 100 people live in Country X, and 60 of these people are working full time. Tara and Jen have been able to find only part-time jobs. John, Peter, and Luna just had to close their coffee shop; and John and Peter are looking for a new business venture. Luna has inherited a large sum of money and feels that she does need to work anymore. Her sister Sara feels the same way. Four people in Country X are living in care facilities. Ten people are full-time students, and two of them currently are hoping to find a job. All other people are retirees or under the age of 16.
-Refer to the scenario above.What is the labor force participation rate in Country X?

Question

Quizplus · Accepted Answer

The labor force participation rate is the percentage of the total population that is part of the labor force, which includes those who are working or actively seeking employment. In Country X, there are 60 people working full-time, Tara and Jen working part-time, and 2 full-time students looking for a job. Therefore, the labor force is 60 + 2 + 2 = 64 people. The total population of Country X is 100 people, so the labor force participation rate is (64/100) x 100% = 64%. Therefore, the best choice is B, which is 86%.

Scenario: 100 People Live in Country X, and 60 of These