The following information is given for an economy:. Labor Force of an Economy
Number of People (millions)
Total population30.3
Children under the age of 166.1
Retirees5.7
Employed15.8
Unemployed1.6
Not actively seeking employment0.6
Homemakers0.5
Instructions: Round your answers to 1 decimal place.
a. How much of the population is older than 16? million
b. What is the size of the labor force? million
c. What is the labor force participation rate? %

The third program provides families with $50 in food stamps each week, redeemable for both perishable and nonperishable food. the fourth policy instead provides a family with a box of nonperishable foods each week, worth $50. use two graphs to illustrate that a family may be indifferent between the two programs, but will never prefer the $50 box of nonperishable foods over the $50 in food stamps. state your answer and use a consumer choice model for perishable food and nonperishable food to graphically justify your choice.