Welcome to Westonci.ca, the Q&A platform where your questions are met with detailed answers from experienced experts. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

according to this formula, what is the labor force participation rate of this economy of six people?

Sagot :

The economy have a labor force participation rate of 60%.

Labor force participation rate helps to measure an economy active workforce.

  • Let understand that missing word is attached as image and from there, the 6 individuals will be assessed in relation with Labor force.

  • It is concluded that Yakov is Employed, Ana is Unemployed, Charles is not in the labor force, Juanita is Unemployed, Gilberto is not in the labor force, Dina is not in the adult population.

Observations from the question

The number of employed = 1

The number of unemployed = 2

Therefore, Labor force = Employed + Unemployed = 3

Adult population = Employed + Unemployed + Not in the labor force = 5

Labor force participation rate = Number in labor force / Adult population * 100

Labor force participation rate = 3/5 * 100

Labor force participation rate = 0.6 * 100

Labor force participation rate = 60%

In conclusion, the labor force participation rate of this economy of six people is 60%.

Read more about this here

brainly.com/question/15279687

View image Tundexi