A commonly reported labor statistic is the labor Force Participation Rate LFPR.

Question

A commonly reported labor statistic is the labor Force Participation Rate LFPR. LFPR = of the labor force/times 100 Calculate the labor Force Participation Rate () 64.33% The Unemployment Rate a calculated as those who are not working but actively locking for a job ("the unemployed") divided by the labor force: Unemployment Rate = Unemployed/size of the labor force times 100 Calculate the Unemployment Rate () 8.29% Suppose that the annual federal deficit is $350 billion. Gross Domestic Product GDP, a measure of the size of the economy is $14.5 ($14,500 billion) Calculate the ratio between the deficit and GDP at a percentage rounded to one decimal place: Deficit GDP ratio:

Explanation / Answer

Deficit to GDP ratio= Deficit/GDP * 100
=350/14500 *100
=2.4

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