The Elasticity of Demand for Labor Will Be Less the

question 329

Multiple Choice

The elasticity of demand for labor will be less the

• A) longer the time period.
• B) easier it is to substitute one input for another.
• C) less the demand elasticity for the final product.
• D) larger the share of total costs accounted for by labor.

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Definitions:

Blood-Injection-Injury Type Phobias

Extreme fears of seeing blood or an injury or of receiving an injection or another invasive medical procedure, which cause a drop in heart rate and blood pressure and fainting.

Natural Environment Type Phobias

Fears associated with objects or situations in the natural environment, such as heights, water, or animals.

Situational Type Phobias

Phobias that are triggered by specific situations or environments, such as flying, heights, or enclosed spaces.

Animal-type Phobias

Specific phobias that involve an irrational and disproportionate fear of certain animals or insects.