Question

Consider an economy made up of 100 people who are sixteen years of age and older, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the labor force is _____.

Answer 1

Labor force= 70

Step-by-step explanation:

Giving the following information:

Consider an economy made up of 100 people:

60 of whom hold jobs

10 of whom are looking for work

15 of whom are retired

The labor force is the number of people of age 16 or more that are working or actively looking for one.

Labor force= 60 + 10

Labor force= 70