If Anh's Elasticity of Labor Supply Is 1

question 101

Multiple Choice

If Anh's elasticity of labor supply is 1.5 and she increases her supply of labor by 5 percent,then the wage rate must have

• A)Increased by 3.3 percent.
• B)Increased by 3.0 percent.
• C)Increased by 7.5 percent.
• D)Decreased by 7.5 percent.

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Definitions:

Transformation of Energy

The process by which energy changes from one form to another, such as from chemical energy to kinetic energy or thermal energy to electrical energy.

Mitochondria

Intracellular organelles that are the sites of oxidative phosphorylation in eukaryotes; include an outer membrane and an inner membrane.

Mitotic Spindle

Structure consisting mainly of microtubules that provides the framework for chromosome movement during cell division.

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA.