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If there are 2000 unemployed, 18000 employed, working age population is 40000 and total population is 55000 then what is the labor force participation rate in this imaginary economy?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 27CTQ: Describe a situation, either a government policy situation, an economic problem, or a private sector...

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If there are 2000 unemployed, 18000 employed, working age population is 40000 and total population is 55000
then what is the labor force participation rate in this imaginary economy?

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