The number of people over age 16 in an economy willing and able to work is known as the:

A. labor force participation rate
B. unemployment rate
C. labor force
D. employment force

Question

13-07-2024
Social Studies

Answered

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The number of people over age 16 in an economy willing and able to work is known as the:

A. labor force participation rate
B. unemployment rate
C. labor force
D. employment force

Sagot :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-07-13T02:16:36-04:00

Final answer:

Labor force participation rate and unemployment rate are key indicators in assessing an economy's workforce.

Explanation:

Labor force participation rate is the percentage of adults in an economy who are employed or unemployed and looking for a job. It includes those individuals in the labor force, which consists of the employed and unemployed individuals actively seeking employment. The unemployment rate is the fraction of the labor force actively seeking employment but not employed.

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