Question : The concept of the working-age population excludes individuals who are:
Option 1: Below 18 years of age
Option 2: Above 60 years of age
Option 3: Studying in school or college
Option 4: All of the above
Correct Answer: All of the above
Solution : The correct answer is (d) All of the above
The concept of the working-age population typically excludes individuals who are below 18 years of age, above 60 years of age, and those who are studying in school or college. The working-age population refers to the segment of the population that is considered to be of working age and is generally available for participation in the labor force.
Individuals below 18 years of age are often considered to be in the dependent age group and are typically not considered part of the working-age population. They are typically still in the process of education and are not expected to participate in the labor force.
Similarly, individuals above 60 years of age are often considered to be in the retirement age group and may not be actively participating in the labor force. They may have transitioned into retirement or may be eligible for retirement benefits.
Additionally, individuals who are studying in school or college are often excluded from the working-age population as they are engaged in educational pursuits rather than active employment. They are considered to be in the education age group and are not typically counted as part of the labor force.
These exclusions help provide a more accurate representation of the population segment that is available and actively participating in the labor market.
Question : The unemployment rate is calculated as the percentage of:
Option 1: Unemployed individuals in the working-age population
Option 2: Employed individuals in the working-age population
Option 3: Unemployed individuals in the total population
Option 4: Employed individuals in the total population
Question : The Labor Force Participation Rate (LFPR) is calculated as the percentage of:
Option 1: Employed individuals in the working-age population
Option 2: Unemployed individuals in the working-age population
Option 3: Employed individuals in the total population
Option 4: Unemployed individuals in the total population
Question : The "dependency ratio" refers to the ratio of:
Option 1: Employed individuals to unemployed individuals
Option 2: Working-age population to dependent population
Option 3: Labor force to working-age population
Option 4: Urban population to rural population
Question : The "Labor Force Participation Rate" (LFPR) measures the:
Option 1: Percentage of employed individuals in the working-age population
Option 2: Percentage of unemployed individuals in the working-age population
Option 3: Percentage of employed individuals in the total population
Option 4: Percentage of unemployed individuals in the total population
Question : The concept of "labor force" includes:
Option 1: Employed individuals ony
Option 2: Unemployed individuals only
Option 3: Employed and unemployed individuals
Option 4: Working-age population
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