Which of the Following Statements Is TRUE

question 15

Multiple Choice

Which of the following statements is TRUE?

• A)the older the worker the less common law notice they will receive
• B)generally courts rarely will award more than 24 months common law notice
• C)junior employees have an easier time finding a new job than senior level employees
• D)the Bardal factors place considerable importance on how much money the employee was making
• E)the Bardal factors consider if the worker was single or married with many children to support

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Definitions:

Elastic Demand

A demand relationship in which the percentage change in quantity demanded is larger than the percentage change in price in absolute value (a demand elasticity with an absolute value greater than 1).

Long Run

The period in which all factors of production and costs can be fully adjusted, allowing for all inputs and operations to change.

Substitutes

Goods that can serve as replacements for one another; when the price of one increases, demand for the other increases.

Elastic Demand

A situation in which the demand for a good or service is sensitive to price changes, meaning a small change in price leads to a significant change in the quantity demanded.