Total Population Adult, noninstitutionalized, nonmilitary population Unemployed adults 300 million 214 million 5 million me labor force participation rate is 75.0%, calculate the size of the labor force: 160.5 million (Enter your se rounded to one decimal place.) ermine the number of Employed adults: million. (Enter your response rounded to one decimal place)

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose that you are given the following information:
Total Population
Adult, noninstitutionalized, nonmilitary population
Unemployed adults
300 million
214 million
5 million
a. If the labor force participation rate is 75.0%, calculate the size of the labor force: 160.5 million (Enter your
response rounded to one decimal place.)
b. Determine the number of Employed adults:
million. (Enter your response rounded to one decimal place)
Transcribed Image Text:Suppose that you are given the following information: Total Population Adult, noninstitutionalized, nonmilitary population Unemployed adults 300 million 214 million 5 million a. If the labor force participation rate is 75.0%, calculate the size of the labor force: 160.5 million (Enter your response rounded to one decimal place.) b. Determine the number of Employed adults: million. (Enter your response rounded to one decimal place)
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