Which of the following is the least likely to be affected by the macroeconomic environment:
A) the demands made by unions
B) the elasticity of demand for goods and services
C) the demands made by employers
D) the real wages of employees
E) the bargaining power of the union

Question

Quizplus · Accepted Answer

The elasticity of demand for goods and services is primarily determined by consumer preferences and the availability of substitutes, making it less directly influenced by macroeconomic changes compared to factors like real wages, union demands, and bargaining power, which are more directly tied to economic conditions.

Which of the Following Is the Least Likely to Be