Based on the information in the above table, what is the labor force participation rate?
What will be an ideal response?
The labor force participation rate equals (139 million labor force ÷ 207 million working-age population) × 100 = 67.1 percent.
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To maintain a fixed exchange rate, when the exchange rate moves above the target level, the central bank must
a. sell foreign currency from reserves. b. buy foreign currency. c. raise taxes. d. raise government spending. e. pass a law that increases the exchange rate.
If economic losses exist in a monopolistically competitive market,
a. new products will be introduced. b. new firms will enter the market because they see potential for profit in the future. c. firms will exit the market and the existing firms' demand curves will shift to the left. d. the average total cost curve must lie below the demand curve. e. firms will exit the market and existing firms' demand curves will shift to the right.