The Consensus Estimate of the Elasticity of Labor Supply Among

question 25

Multiple Choice

The consensus estimate of the elasticity of labor supply among females is −0.1. The interpretation of this estimate is what?

• A) On average, women will increase hours of work by 10% when their wage increases by 1%.
• B) On average, women will increase hours of work by 1% when their wage increases by 10%.
• C) On average, women will reduce hours of work by 5% when their wage increases by 10%.
• D) On average, women will reduce hours of work by 10% when their wage increases by 1%.
• E) On average, women will reduce hours of work by 1% when their wage increases by 10%.

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Definitions:

Reliable

Consistently good in quality or performance, able to be trusted or depended upon.

Standardization

Process of bringing into conformity with a standard; pertaining to ECG, a mark made at the beginning of each lead to establish a standard of reference.

Segment

The portion of ECG between two waves.

Interval

Time between events; space. On an ECG, the period that includes one segment and one or more waves, that is, P-R interval.