Short Answer
You are given the following statistics about the economy:
Unemployment rate: 5.7%
Labor force participation rate: 71.7%
Number of unemployed: 10 million
Relevant population: 244 million
a. How many people are in the labor force?
b. How many people are employed?
c. How many people are classified as not being in the labor force?
Correct Answer:
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a.175 mill...View Answer
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Correct Answer:
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