2. Which of the following statements is true? The labor force is the same as the

Question

2. Which of the following statements is true? The labor force is the same as the population. The number of people not working but who have looked for work in the past year are unemployed (U3) The unemployment rate is the number of people unemployed expressed as a percentage of the population. The labor force is the total number of people working plus those who are unemployed. 2. Which of the following statements is true? The labor force is the same as the population. The number of people not working but who have looked for work in the past year are unemployed (U3) The unemployment rate is the number of people unemployed expressed as a percentage of the population. The labor force is the total number of people working plus those who are unemployed.

Explanation / Answer

The correct answer is B. The labour force is all the people in the population who are willing and able to work. The correct answer is thus B.

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