What Will the Elasticity of Resource Demand Be If Unit

question 160

Multiple Choice

What will the elasticity of resource demand be if unit wages rise by 8 percent and the number of employed workers falls by 5 percent?

• A) 0.63
• B) 1.61
• C) 2.90
• D) 4.00

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Definitions:

Sensory Information

Data received and processed by the sensory organs, such as sight, sound, touch, taste, and smell, which is then sent to the brain.

Homeostasis

The process by which a living organism regulates its internal environment to maintain a stable, constant condition.

Vagus Nerve

The tenth cranial nerve that innervates digestive organs, heart and other areas, and is part of the parasympathetic nervous system.

Reflexes

are involuntary and nearly instantaneous movements in response to a stimulus as part of the body's defense mechanism.