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a. absolute change in resource quantity demanded divided by the absolute change in resource price.

b. percentage change in resource quantity demanded divided by the percentage change in resource price.

c. absolute change in resource price divided by the absolute change in resource quantity demanded.

d. percentage change in resource price divided by the percentage change in resource quantity demanded.

2 Compensating differences in wages:

a. compensate workers for differences in their human capital.

b. are wage differences that compensate for differences in the desirability of jobs.

c. describe the tendency for the wages of all occupations to adjust to the median level.

d. do not exist if jobs have different nonmonetary characteristics.

Which of the following will not cause a shift in the demand for resource X?

a. a decline in the price of resource X

b. an increase in the price of the product resource X is producing

c. a decrease in the price of substitute resource Y

d. an increase in the productivity of resource X