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Answer :
Answer:
The correct answer is option (d) 65.5% for the labor-force participation rate and 13.4% for the unemployment rate.
Explanation:
To calculate the labor-force participation rate and the unemployment rate, we use the following formulas:
Labor-force participation rate = (Labor force / Adult non-institutionalized population) * 100
Unemployment rate = ((Labor force - Number of people employed) / Labor force) * 100
Given the information provided:
Adult non-institutionalized population = 38.8 million
Labor force = 25.4 million
Number of people employed = 22 million
Let's calculate the rates:
Labor-force participation rate = (25.4 million / 38.8 million) * 100 ≈ 65.5%
Unemployment rate = ((25.4 million - 22 million) / 25.4 million) * 100 ≈ 13.4%
The correct answer is option (d):
65.5% for the labor-force participation rate and 13.4% for the unemployment rate.
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