Suppose there are 300 million able-bodied, working age adults in a society.-12 million are actively looking for a job, but have no yet found one-40 million are stay at home moms (dads) who are not looking for paid work outside the home-20 million are discouraged workers-50 million have part-time jobs, but would prefer full-time employment-everyone else has a full-time joba. What is the labor force participation rate?b. what is the unemployment rate?
Suppose there are 300 million able-bodied, working age adults in a society.
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