Suppose some country had an adult population of about 46.5 million,the labor-force participation rate was 63.5 percent,and the unemployment rate was 5.8 percent.What were the number of people employed and the number of people unemployed?

Question

Quizplus · Accepted Answer

The number of people in the labor force can be found by multiplying the adult population by the labor-force participation rate:
46.5 million x 0.635 = 29.4775 million (about 29.5 million)

The number of unemployed people can be found by multiplying the labor force by the unemployment rate:
29.4775 million x 0.058 = 1.7082 million (about 1.7 million)

The number of employed people can be found by subtracting the number of unemployed from the labor force:
29.4775 million - 1.7082 million = 27.7693 million (about 27.8 million)

Therefore, the best choice is D: about 27.8 million and 1.7 million.

Suppose Some Country Had an Adult Population of About 46