Final answer:
The labor force participation rate is calculated by dividing the labor force (sum of employed and unemployed individuals) by the total adult population and multiplying by 100. In this scenario, the most accurate rate is approximately 73%, suggesting option c. 70% as the most plausible answer given.
Step-by-step explanation:
The question asks to calculate the labor force participation rate, which is the percentage of adults in an economy who are either employed or are unemployed and actively looking for a job. To compute the rate, we add the number of employed (70 million) to the number of unemployed (10 million) to get the size of the labor force, which is 80 million in this case. We then add the labor force to the number of people not in the labor force (30 million) to get the total adult population, which is 110 million. The labor force participation rate is the labor force divided by the total adult population, multiplied by 100 to convert it to a percentage.
Calculating this, we get: (80 million / 110 million) * 100 = (8/11) * 100 ≈ 72.73%, which would typically be rounded to the nearest whole number, making the labor force participation rate approximately 73%.
However, the options provided do not include 73%. Since the closest option to our calculated value is 70%, and assuming there might have been a rounding error in provided options or in the original question, option c. 70% is the most plausible answer within the constraints of the given multiple-choice options.