E) 70 million 7) The labor force participation rate is the A) labor force divide
ID: 1122031 • Letter: E
Question
E) 70 million 7) The labor force participation rate is the A) labor force divided by the working-age population, then multiplied by 100. 3) number of people employed divided by the labor force, then multiplied by 100 C) labor force divided by the population, then D) discouraged workers divided by the labor force, then multiplied by 100 E) number of people employed divided by the population, then multiplied by 100 working-age population equals 285 million people, the labor force participation rate is 8) If the number of employed people is 150 million, the number of unemployed people is 50 million, and the A) 70.2 percent B) 81 percent C) 17.5 percent D) 25 percent. E) 52.6 percent 9) A discouraged worker is A) a person who is not happy with his or her job. B) someone who works part time but wants full-time work. C) someone who is asked to work overtime everyday. D) someone who does not have a job but has given up looking. E) another name for an unemployed worker 10) Aggregate hours of work is calculated by A) multiplying the full-time hours worked by the number of workweeks in a year. B) multiplying the number of people employed by the average hours worked per week by the number of workweeks. C) multiplying the number of full-time workers employed by the average hours worked by the number of workweeks D) multiplying the number of workers by 40 hours per week by 52 weeks. E) multiplying the labor force by the average hours worked and then multiplying by 1 minus the unemployment rate. Frictional unemployment is the result of A) an economic recession. B) the economic decline of major industries. C) the normal process of jobs being created and destroyed. D) people not getting along (having friction) with their employers. E) changing weather throughout the yearExplanation / Answer
7. Option A
Explanation: Labor force participation rate is calculated by dividing the labor force by the no. of people eligible to participate (working age population) in the labor force and then multipled by 100. So, labor force participation rate = labor force/eligible people to participate in labor force * 100.
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