The Price Elasticity of Demand for Labor Equals

question 360

Multiple Choice

The price elasticity of demand for labor equals

• A) the percentage change in the price of labor divided by the percentage change in the supply of labor.
• B) the change in the quantity demanded of labor divided by the change in the price of labor.
• C) the slope of the demand curve for labor.
• D) the percentage change in the quantity demanded of labor divided by the percentage change in the price of labor.

---

Definitions:

Debit

A financial record that leads to a rise in assets or a reduction in liabilities on the balance sheet of a company.

Credit Accounts

Accounts within financial accounting that are increased with a credit entry, carrying a balance that could be beneficial (revenue, gains) or detrimental (liabilities, expenses).

Journal Entry

A record in accounting that logs the debit and credit parts of a transaction in the financial records of a company.

Journal

A record where all financial transactions are initially recorded, using debits and credits, before being posted to individual accounts.