Question : The concept of "labor force" includes:
Option 1: Employed individuals ony
Option 2: Unemployed individuals only
Option 3: Employed and unemployed individuals
Option 4: Working-age population
Correct Answer: Employed and unemployed individuals
Solution : The correct answer is (c) Employed and unemployed individuals
The labor force refers to the total number of individuals who are either employed or actively seeking employment. It includes both individuals who are currently employed and those who are unemployed but actively looking for work. The labor force is a key component in calculating various labor market indicators such as the unemployment rate and labor force participation rate.
Question : The "Labor Force Participation Rate" (LFPR) measures the:
Question : The Labor Force Participation Rate (LFPR) is calculated as the percentage of:
Question : The "dependency ratio" refers to the ratio of:
Question : The term "unemployment rate" is defined as the number of unemployed individuals divided by the:
Question : The unemployment rate is calculated as the percentage of:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile