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imagine that a country has a labor force of 154.9 million, yet 234.1 million civilian adults live in the country and are not institutionalized. there are also 8.3 million children in the country. what is the labor force participation rate? 62.62% 63.90% 66.17% 68.60%

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Final answer:

The labor force participation rate for the given country with a labor force of 154.9 million and a civilian adult population of 234.1 million is 66.17%.

Step-by-step explanation:

The labor force participation rate is a key economic indicator that represents the proportion of the civilian adult population that is either employed or actively seeking employment.

To calculate this rate, we take the number of people in the labor force and divide it by the total number of civilian adults who are not institutionalized, then multiply by 100 to convert it to a percentage.

For a country with a labor force of 154.9 million and a civilian adult population of 234.1 million, the labor force participation rate is calculated as follows:

Labor Force Participation Rate = (Labor Force / Civilian Adult Population) × 100

Labor Force Participation Rate = (154.9 million / 234.1 million) × 100 = 66.17%

Therefore, the labor force participation rate is 66.17% according to the given data.

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