Table 28-1 Labor Data for Wrexington

question 39

Multiple Choice

Table 28-1
Labor Data for Wrexington

-Refer to Table 28-1.The labor-force participation rate of Wrexington in 2004 was

• A) 70%.
• B) 77.8%.
• C) 80%.
• D) 87.5%.

---

Definitions:

Real Interest Rate

The interest rate expressed in dollars of constant value (adjusted for inflation) and equal to the nominal interest rate minus the expected rate of inflation.

Interest

The cost of borrowing money or the return earned on investments, typically expressed as a percentage.

Borrower

An individual, corporation, or other entity that receives funds from another party under the condition of returning the funds plus interest or other charges at a later date.

Lender

A financial institution or individual that provides funds to a borrower under the condition that the funds will be repaid with interest.