Table 28-2 2009 Labor Data for Wrexington

question 231

Multiple Choice

Table 28-2
2009 Labor Data for Wrexington

-Refer to Table 28-2.How many people were not in Wrexington's labor force in 2009?

• A) 4,400
• B) 6,620
• C) 7,400
• D) 8,690

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Definitions:

Marginal Productivity

The additional output resulting from the use of one more unit of a production factor.

Wages

Payments made to labor for their services, typically expressed per hour or per annum.

Wage Paid

The compensation given to labor for the service provided, usually calculated as an hourly, daily, or per task basis.

Market

A place or system where goods and services are exchanged between buyers and sellers.