Question

question 36 · 1 point
suppose the adult working - age population is 295.4 million and the labor force is 189.6 million. what is the labor force participation rate?
round your answer to the nearest tenth.
provide your answer below:
□%
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question 37 · 1 point
a new batch of college graduates enter the workforce boosting the labor productivity of corporate america. illustrate what occurs to the aggregate supply curve by shifting it in the appropriate direction.
provide your answer below:

Explanation:

Step1: Recall the formula for labor force participation rate

The labor force participation rate is calculated as \(\text{Labor Force Participation Rate} = \frac{\text{Labor Force}}{\text{Adult Working - Age Population}}\times100\%\)

Step2: Substitute the given values into the formula

We are given that the adult working - age population is \(295.4\) million and the labor force is \(189.6\) million.
So, \(\text{Labor Force Participation Rate}=\frac{189.6}{295.4}\times 100\%\)

Step3: Calculate the value

First, calculate \(\frac{189.6}{295.4}\approx0.6418\)
Then, multiply by \(100\%\) to get \(0.6418\times100\% = 64.18\%\)

Step4: Round to the nearest tenth

Rounding \(64.18\%\) to the nearest tenth gives \(64.2\%\)

Answer:

\(64.2\%\)