What Would Be the Safest Way for a Person Living

question 107

Multiple Choice

What would be the safest way for a person living in the inner city to get exercise?

• A) ride a bike to work
• B) walk to the nearest city park and back
• C) take the stairs instead of the elevator in a high-rise office building
• D) purchase several exercise DVDs to use at home

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Definitions:

Labor Demand Curve

Graphical representation showing the relationship between the quantity of labor a firm demands and the wage rate, with other factors being constant.

Unit-elastic

Unit-elastic describes a situation where a change in price leads to an equivalent proportional change in quantity demanded or supplied, resulting in no revenue change for the seller.

Wage Increase

An upward adjustment in the amount of earnings a worker receives for their labor.

Elasticity of Resource Demand

A measure of how the quantity demanded of a resource changes in response to a change in price.