Question

The labor force consists of all a. the people in the economy who are not retired b. people in the economy over 16 years of age c. the adults in the economy between 18 and 65 years old who are able to work d. the noninstitutionalized population over 16 in the economy who hold jobs or are looking for them

Answer 1

d. the non-institutionalized population over 16 in the economy who hold jobs or are looking for them

Step-by-step explanation:

Labor is made up of all adult population in a country that is able and willing to work. In consists of the employed and the unemployed people. In calculating the labor, unemployed people are defined as jobless persons who are actively seeking employment.

The labor force includes persons able and willing to work only. Students, children, retired persons, and the elderly are not included in the labor force. Unemployed persons willing to take up a job are part of the labor force. Jobless individuals who have lost hope of finding a job and those engaged in activities that hinder them from seeking employment are not included in the labor force.