The Elasticity of Demand for Labor Is 2

question 25

Multiple Choice

The elasticity of demand for labor is 2.16. It follows that if the

• A)wage rate changes by 10 percent, the demand for labor changes by 2.16 percent.
• B)demand for labor changes by 2.16 percent, the wage rate changes by 1.0 percent.
• C)wage rate changes by 10 percent, the quantity demanded of labor changes by 21.6 percent.
• D)wage rate changes by 2.16 percent, the quantity demanded of labor changes by 2.16 percent.
• E)none of the above

---

Definitions:

Stream Channel

The physical confine of a river or stream, composed of a bed and banks, which confines water flow.

Long-Range Forecasting

The process of predicting future events, trends, or conditions over an extended period, usually months or years ahead.

Seismic Activity

The frequency, type, and size of earthquakes experienced over a period of time in a particular area.

Tectonic Settings

Refers to the environmental conditions and geological settings related to the movement of Earth's tectonic plates.