Question

The Labor force of an economy includes:

1. The entire population
2. All the people that are working
3. All the people that want to work
4. All the old and sick people
5. All the people that have given up looking for work
6. All the people that are out of work or unemployed
(a). Option 1
(b).Options 1-5
(c).Option 3 and Option 4
(d). Option 6 and option 12
(e). All of the Above

Answer 1

The Labor force of an economy includes all the people that want to work, all the people that are working, and all the people that are out of work or unemployed.

Step-by-step explanation:

The Labor force of an economy includes all the people that want to work, all the people that are working, and all the people that are out of work or unemployed. It does not include the entire population, all the old and sick people, or all the people that have given up looking for work.

For example, if we consider a country with a population of 100 million, out of which 60 million are adults and eligible to work, and 50 million are either employed or actively looking for work, then the labor force of that country would be 50 million.

So, the correct answer to the question is (d). Option 6 and option 12.