On a linear demand curve, the lower the price,
A) the less elastic is demand.
B) the more elastic is demand.
C) the elasticity equals -1.
D) the elasticity equals zero.
A
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A probability distribution with a smaller percentage of its observations beyond a certain distance from the mean will have a higher variance
Indicate whether the statement is true or false
The invisible hand is closely related to each of the following, except
A. supply and demand. B. the price mechanism. C. competition. D. fairness or equity.
"An Inquiry into the Nature and Causes of the Wealth of Nations" published in 1776 was written by
A) John Maynard Keynes. B) Karl Marx. C) Alfred Marshall. D) Adam Smith.
The challenges facing policymakers today include each of the following, except:
A. nominal interest rates cannot fall below the effective lower bound (somewhat below zero). B. the structure of the economy and financial system continues to evolve. C. stock and property values are subject to booms and busts. D. the economy's sustainable growth rate is highly stable.