Answer:
Therefore, we conclude that 480 millions workers are in the labor force.
Step-by-step explanation:
We know that the number in the working-age population is 500 million, and the unemployment rate is 4%.
We calculate how many workers are in the labor force.
We conclude that 100% - 4% = 96% workers are in the labor force.
We have the following proportion:
[tex]500:100\%=x:96\%\\\\100x=500\cdot 96\\\\x=\frac{48000}{100}\\\\x=480\\[/tex]
Therefore, we conclude that 480 millions workers are in the labor force.
