**Labor Force Participation Rate Calculation**In this exercise, we are asked to determine the labor force participation rate given the following data:- Unemployed people: 21- Employed people: 193- People considered not part of the labor force: 48**Task:**Calculate the labor force participation rate and enter the result as a percentage (rounded to two decimal places), without using the percentage sign (%).**Instructions:**The labor force participation rate is calculated using the formula:\[ \text{Labor Force Participation Rate} = \left( \frac{\text{Employed} + \text{Unemployed}}{\text{Employed} + \text{Unemployed} + \text{Not in Labor Force}} \right) \times 100 \]1. Calculate the total labor force (Employed + Unemployed).2. Calculate the total population considered (Employed + Unemployed + Not in Labor Force).3. Use the formula to find the labor force participation rate.4. Round your answer to two decimal places.5. Enter the number without a percentage sign in the provided box.(There are no graphs or diagrams to explain in this task.)

Answered: There are 21 unemployed be not part of…

Business

Economics

There are 21 unemployed be not part of the labor for

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Nominal interest rate is 13% and Inflation is 7% Calculate the value of real interest rate
Question Help The table gives information about a nation's labor force. Labor Market Data What is the number unemployed? Labor force 143.7 milion Not in labor force 714 million The number unemployed is million. Employed 136.9 million >>> Answer to 1 decimal place.
Laos' total population is 300,000. There are 60,000 people under the age of 16 in Laos. Laos' Labour Force size is 180,000. Currently there are 150,000 members of the Labour Force working. 1. What is Laos Labour Force Participation Rate? 2. What is Laos' unemployment rate?
When the real wage decline, it must be the case that a. Nominal wage is declining b. Real wage is not adjusted for inflation c. Nominal wage growth is not keeping pace with inflation d. Unemployment rate is increasing
Suppose th ent prium wage in a certain labor market is $18 per hour. Michelle is curren not employed, but seeking work in that same market and willing to work for $18 per hour. After 5 weeks of searching, Michelle still has not found a job. What would economists say about Michelle's situation? Select the correct answer below: Michelle is involuntarily unemployed. Michelle is voluntarily unemployed. Michelle is not in the labor force. Michelle's situation is an example of frictional unemployment. FEEDBACK
Table 7.2 Labor force participation rate 75% Total population 16 years age Unemployment rate of and older 200 million 10% Refer to Table 7.2. The total number of people unemployed is Select one: a. 15 million b. 17 million c. 13 million d. 20 million
This not a test its a textbook question
Using the table, Year 2018 Year 2019 Population Labor Force Employed 3500 2000 3675 2200 1980 1800 13. What is the unemployment rate in each year? 14. Calculate the change in the number of unemployed between Year 2018 and Year 2019? 15. How is the apparent discrepancy between #13 and #14 explained?
fill in the blank year population employed unemployed labor force unemp. Rate LFPR 1.0 300 1000 0.50 2.0 1800.00 800 0.70 3.0 1600.00 700 0.45 0.80
Civilian population of a country is equal to 237,8 million. Labor force was only 153,8 million. What is participation rate? If 139 million of those in the labor force were employed, 14,8 million were unemployed. What is unemployment rate?
Labor Force of an Economy Labor Force Number of People (millions) Employed 194.1 Structurally unemployed 5.3 Cyclically unemployed 4.1 Frictionally unemployed 4.1
question attached in ss below thanks for helpal hepahpohk aekoh hk ew