What Will the Elasticity of Resource Demand Be If Unit

question 325

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)4
• B)2.9
• C)1.61
• D)0.63

---

Definitions:

Budget Period

The time frame for which a budget is planned and implemented, often one fiscal year.

One Month

A period of time extending roughly from a specific date in one calendar month to the corresponding date in the next calendar month.

One Year

A period consisting of 12 consecutive months or 365 days.

Budget Period

A specific time frame for which financial planning, expenditure, and allocations are made and tracked.