Question 3 (2 points) Imagine a small island nation where there are 50,000 individuals in the non- institutionalized, working age population. Of these 50,000, 30,000 are working at paid jobs while 5,000 do not have paid jobs but are actively seeking paid employment. The labor force participation rate is a) 50,000/ (50,000 + 30,000 + 54,000). b) 30,000/50,000. c) (30,000+ 5,000) / 50,000. d) (30,000 – 5,000) / 50,000. e) (30,000 – 5,000) / (50,000 – 5,000).
