Refer to the information above.The labor force participation rate is
A) .2.
B) .3.
C) .4.
D) .6.
E) .8.

Question

Quizplus · Accepted Answer

The labor force participation rate is defined as the percentage of the total population that is either employed or actively seeking employment.

Therefore, the labor force participation rate is equal to the labor force (20,000) divided by the total population (33,000):

Labor force participation rate = (Labor force)/(Total population) = 20,000/33,000 = 0.606 or 60.6%.

The closest answer choice to this is D, which has a value of 0.6 or 60%. Therefore, D is the correct choice.

Refer to the Information Above