A country has 50 million people, 30 million of whom are adults. Of the adults, 5 million are not interested in working, another 5 million are interested in working but have given up looking for work, and 5 million are still looking for work. Of those who do have jobs, 5 million are working part time but would like to work full time, and the remaining 10 million are working full time. How many people in this country are in the labor force? Question 2 options: a) 15 million b) 20 million c) 25 million d) 30 million

Answer:66.7%Step-by-step explanation:Given thatTotal population = 50 million Adults = 30 millionThose not interested in working = 5 millionThose interested in working but given up on searching = 5 millionThose searching = 5 millionThose working part time = 5 millionThose working full time = 10 millionRecall thatLabour force participation rate = (number of people actively participating in labour ÷ total number of people eligible) × 100Number of people actively participating in labour = employed + unemployed Employed = 10 million full time + 5 million part time= 15 millionUnemployed = 5 million. Those searching.Thus, People actively participating in labour = 15 + 5= 20 million.Total number of eligible people = total number of adults = 30 millionThereforeLabour participation rate = (20/30) × 100= 0.66667 × 100= 66.6667Approximately 66.7%