Noninstitutional adult population

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Reference no: EM131244263

Suppose that the U.S. noninstitutional adult population is 206 million and the labor force participation rate is 67%.

a. What us the size of the labor force?

b. If 72 million out of the 206 million adults are not working, what is the unemployment rate? [Hint: First find the “not in the labor force” and “unemployed” numbers.]

Reference no: EM131244263

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