Which of the Following Statements Is True? Other Things Equal

question 127

Multiple Choice

Which of the following statements is true? Other things equal, the demand for labor will be less elastic the

• A) easier it is to substitute capital for labor.
• B) greater the elasticity of resource supply.
• C) greater the elasticity of product demand.
• D) smaller the ratio of labor costs to total costs.

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Definitions:

Specialized-sector Funds

Specialized-sector Funds focus investments on specific sectors of the economy, such as technology, healthcare, or finance, aiming for higher returns from these niche areas.

Precious Metals

Metallic elements of high economic value, such as gold, silver, and platinum, often used as investment or for industrial purposes.

NAV

Net Asset Value, representing the per-share/unit price of a fund on a specific date or time, calculated by deducting liabilities from assets and dividing by the number of shares outstanding.

Load

A fee or charge assessed when buying or selling shares in a mutual fund, which can be front-end (when buying) or back-end (when selling).