Questions: There are 15 million people living in Marketstan, of whom 9 million are working and 1 million are actively looking for work. What is the size of Marketstan's labor force?

There are 15 million people living in Marketstan, of whom 9 million are working and 1 million are actively looking for work. What is the size of Marketstan's labor force?
Transcript text: There are 15 million people living in Marketstan, of whom 9 million are working and 1 million are actively looking for work. What is the size of Marketstan's labor force?
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Solution

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The answer is the third one (10 million).

Explanation for each option:

  1. 16 million: This is incorrect because it includes the entire population of Marketstan, not just the labor force.
  2. 15 million: This is incorrect because it includes the entire population of Marketstan, not just the labor force.
  3. 10 million: This is correct because the labor force includes both those who are working (9 million) and those who are actively looking for work (1 million). Therefore, the labor force is 9 million + 1 million = 10 million.
  4. 5 million: This is incorrect because it does not accurately represent the sum of those working and those actively looking for work.

Summary: The size of Marketstan's labor force is 10 million.

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