You can use a calculator to answer this question - an actual calculator or the calculator on your phone. Either is fine.Assume thatU.S. population is 328 million people70 million individuals are legally classified as unable to work (are less than 16 years of age, institutionalized, or in the military)96 million who could be working are classified as uninterested working7 million are classified as unemployedGiven this information, what is the labor force participation rate?State your answer as a percentage (type in the percentage symbol), and round to one decimal place, i.e. xx.x%

Labor force participation rate refers to the number of individuals who are actively working or…

Answered: U.S. population is 328 million people…

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter13: Measuring The Economy's Performance

Section: Chapter Questions

Problem 22AA

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You can use a calculator to answer this question - an actual calculator or the calculator on your phone. Either is fine.

Assume that

U.S. population is 328 million people
- 70 million individuals are legally classified as unable to work (are less than 16 years of age, institutionalized, or in the military)
- 96 million who could be working are classified as uninterested working
- 7 million are classified as unemployed

Given this information, what is the labor force participation rate?

State your answer as a percentage (type in the percentage symbol), and round to one decimal place, i.e. xx.x%

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