Demand is said to be __________ when the quantity demanded changes at the same proportion as the price.
a. elastic
b. unit elastic
c. inelastic
d. independent
b. unit elastic
Demand is said to be unit elastic when the quantity demanded changes at the same proportion as the price.
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A tax is progressive if it raises a greater fraction of total tax revenue every year.
Answer the following statement true (T) or false (F)
With limited exceptions, all Israeli citizens over the age of 18 are required to serve in the Israeli military. This is an example of
A) compulsory volunteerism. B) coalition building. C) bargaining. D) eminent domain.
The fair value of a good is not a subjective measure
Indicate whether the statement is true or false
SInce 1950, the United States has experienced about 20 business cycles.
Answer the following statement true (T) or false (F)