Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question This table shows the 2018 data of the population ages 16 and over in the imaginary country of Avenger. Category Million Not in the
Question
This table shows the 2018 data of the population ages 16 and over in the imaginary country of Avenger.
| Category | Million |
| Not in the labor force | 45 |
| Unemployed | 5 |
| Employed | 85 |
Answer the following questions.
- What is a working adult population? Determine the total number of working adult population?
- Distinguish between 'Labor force' and 'Not in the labor force'. Provide examples of those who are in these categories.
- Calculate the unemployment rate. Interpret the result.
- Calculate the labor force participation rate. Interpret the result.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Introduction to Probability
Authors: Mark Daniel Ward, Ellen Gundlach
1st edition
716771098, 978-1319060893, 1319060897, 978-0716771098
