Calculate the labour force participation rate based on the following information. LFPR= actual labour force/potential labour force x 100 Total population: 260 million Employed: 130 million Unemployed: 10 million Retired: 35 million Outside the working-age group: 60 million
Calculate the labour force participation rate based on the following information. LFPR= actual labour force/potential labour force x 100 Total population: 260 million Employed: 130 million Unemployed: 10 million Retired: 35 million Outside the working-age group: 60 million
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 1P
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Calculate the labour force participation rate based on the following information.
LFPR= actual labour force/potential labour force x 100
Total population: 260 million
Employed: 130 million
Retired: 35 million
Outside the working-age group: 60 million
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