Table 28-1 Labor Data for Wrexington

question 217

Multiple Choice

Table 28-1
Labor Data for Wrexington

-Refer to Table 28-1.The labor-force participation rate of Wrexington in 2005 was

• A) 43.3%.
• B) 54.2%.
• C) 63.3%.
• D) 68.4%.

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Definitions:

Insufficient Capacity

A situation where a firm cannot meet the demand for its products or services due to limitations in its production or service capabilities.

Plant Asset

Long-term tangible assets used in the production and sale of goods and services, such as machinery and buildings.

Productive Demands

The requirement for goods and services based on their use in producing other goods and services.

Additional Costs

Expenses incurred that are above the initially planned or estimated amounts.