How to get the # of employed in this economy?

Anonymous
timer Asked: Aug 10th, 2014
account_balance_wallet $5

Question Description

Data for an economy shows that the unemployment rate is 10%, the participation rate 80 percent, and 800 million people are in the labor force.How many people are employed in this economy? 720 million 

Tutor Answer

Prashant S
School: Rice University

participation is employed + looking for work

employed is total-unemployed

thus

.9*800 mil=720 mill

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Review

Anonymous
Good stuff. Would use again.

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