Which of the Following Statements Is True

question 35

Multiple Choice

Which of the following statements is true?

• A)The lower the elasticity of demand for cars, the higher the elasticity of demand for the workers that produce cars.
• B)The higher the elasticity of demand for cars, the lower the elasticity of demand for the workers that produce cars.
• C)The lower the elasticity of demand for cars, the lower the elasticity of demand for the workers that produce cars.
• D)The fewer the substitute factors for union labor, the higher the elasticity of demand for union labor.

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Definitions:

Temporary

Not permanent; lasting for a limited period of time or intended for short-term use.

Employer's Payroll Tax

Taxes that employers are required to pay on behalf of their employees, which may include contributions to social security, Medicare, and unemployment taxes.

Permanent

A term used in accounting to describe accounts that are not closed at the end of the accounting period, such as assets, liabilities, and equity accounts.