If a 10 Percent Wage Increase in a Particular Labor

question 87

Multiple Choice

If a 10 percent wage increase in a particular labor market results in a 5 percent decline in employment in that market, labor demand is

• A)unit-elastic.
• B)elastic.
• C)inelastic.
• D)perfectly elastic.

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Definitions:

Flexible Work Arrangement

Employment terms that allow workers flexibility on how long, where, and when they work.

Lateness

The state or condition of occurring after the expected, arranged, or usual time.

Compressed Workweek

An alternative work arrangement where employees work longer hours per day but for fewer days in a workweek to complete their full-time hours.

Job Satisfaction

The level of contentment employees feel toward their jobs, influencing their motivation, performance, and likelihood of staying with the company.