Other Things Equal,the Own-Wage Elasticity of Demand for a Category

question 8

Multiple Choice

Other things equal,the own-wage elasticity of demand for a category of labor is higher when

• A) the price elasticity of demand for the product being produced is low.
• B) other factors of production can be easily substituted for the category of labor.
• C) the supply of other factors of production is highly inelastic.
• D) the cost of employing the category of labor is a small share of the total costs of production.

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Definitions:

New England

New England is a region located in the northeastern part of the United States, comprising six states: Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut.

Potomac

A river in the Eastern United States, flowing into the Chesapeake Bay, and passing through Washington D.C.

Patriot Cause

The movement and ideological drive toward independence from British rule among the American colonies, particularly during the late 18th century.

Thomas Paine

A political activist and writer whose works, including "Common Sense" and "The American Crisis," were influential in the American Revolution and the promotion of democratic ideals.