In January of 2001, the population of the United States was 276.8 million, the working-age population was 210.2 million, the total number of people employed was 140 million, and the total number of people unemployed was 5.0 million
What was the labor force participation rate? A) 78 percent
B) 56 percent
C) 69 percent
D) 90 percent
E) 67 percent
C
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Which of the following will tend to occur if price floors are imposed on a product?
A. Persistent surpluses B. Problems of disposal of goods C. Disguised discounts developing to eliminate excess production D. Overinvestment in the industry E. All of these responses are correct.
According to the Taylor rule, if there is an expansionary gap of 2 percent of potential output and inflation is 3 percent, what real interest rate will the Fed set?
A. 2 percent B. 2.5 percent C. 1.5 percent D. 3.5 percent
The unemployment rate is
A) the percentage of the labor force that is employed. B) the percentage of the number employed that is unemployed. C) the percentage of the working-age population that is unemployed. D) the percentage of the labor force that is unemployed. E) the percentage of the working-age population that is employed.