​Figure 53

question 57

Multiple Choice

​Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-If a 10 percent increase in the price of gasoline results in a 2 percent decrease in the quantity demanded of gasoline, then the elasticity of demand for gasoline is:

• A)equal to 0.2 and demand is inelastic.
• B)equal to 0.2 and demand is elastic.
• C)equal to 0.02 and demand is elastic.
• D)equal to 0.5 and demand is inelastic.
• E)equal to 0.5 and the demand is elastic.

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Definitions:

Brain Itself

The organ located in the head of an organism, responsible for central nervous system functions, including processing sensory information and directing behavior.

Magnetic Field

An invisible field around magnetic materials or a moving electric charge, which exerts a force on other magnetic materials or moving charges.

Cyclic Activity

Activities or processes that occur in a repeated sequence, often observed in natural phenomena.

Memory Abilities

The capacity to encode, store, retain, and subsequently retrieve information and past experiences in the human brain.