(a)
To compute:
The labor force participation rate for the given situation.
Answer to Problem 1P
The labor force participation is
Explanation of Solution
Given information:
Total adult population
The labor force
Calculation for labor force participation:
Hence, the labor force participation is
Labor force participation:
It refers to that percentage of current total population that is willing to work or is working;which means the labor force in total adult population.
(b)
To compute:
The labor force participation rate for the given situation.
Answer to Problem 1P
The labor force participation is
Explanation of Solution
Given information:
Total adult population
The labor force
Calculation for labor force participation:
Labor force participation is
Labor force participation:
It refers to that percentage of current total population that is willing to work or is working;which means the labor force in total adult population.
(c)
To compute:
The labor force participation rate for the given situation.
Answer to Problem 1P
Labor force participation will be
Explanation of Solution
Given information:
Total adult population
The labor force
Calculation for labor force participation:
Labor force participation is
It is the initial labor force participation.
Now, if
The new labor force participation is,
Thus, the labor force participation will be
Labor force participation:
It refers to that percentage of current total population that is willing to work or is working;which means the labor force in total adult population.
(d)
To compute:
The labor force participation rate for the given situation.
Answer to Problem 1P
Labor force participation will be
Explanation of Solution
Given information:
Total adult population
The labor force
Calculation for labor force participation:
Labor force participation is
Now,
If employment rose from
Calculation of labor force participation:
Thus, the labor force participation will be
Labor force participation:
It refers to that percentage of current total population that is willing to work or is working;which means the labor force in total adult population.
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