Table 28-5 2010 Labor Data for Wrexington

question 340

True/False

Table 28-5
2010 Labor Data for Wrexington

-Refer to Table 28-5.The labor-force participation rate of Wrexington in 2010 is about 40.8 percent.

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Definitions:

Well-functioning Market

A market where resources are allocated efficiently, information is freely available, transaction costs are low, and property rights are protected.

Nominal Interest Rate

The percentage increase in money that borrowers pay lenders, not adjusted for inflation.

Inflation

The pace at which prices for various goods and services climb, diminishing the value of money to buy them.

Storage Costs

Expenses associated with keeping goods stored in a warehouse or other facility until they are sold or used.