The demand for a good is inelastic with respect to price if the price elasticity of demand is:

A. greater than one.
B. equal to negative one.
C. equal to one.
D. less than one.


Answer: D

Economics

You might also like to view...

What determines the demand for labor, the supply of labor, and labor market equilibrium?

What will be an ideal response?

Economics

__________ bonds are municipal bonds that are backed by the general taxing power of the state or local government

A) General obligation B) Revenue C) Tax-anticipation D) Bond-anticipation

Economics

Among the impediments to the international mobility of capital are

a. restrictions on foreign ownership. b. fear of nationalization or political instability. c. fluctuations in exchange rates. d. All of the above are correct.

Economics

Why does minimum wage affect teenagers more negatively than other age groups?

a. They are too young to be hired for minimum-wage jobs. b. They are not experienced enough to get minimum-wage jobs. c. They are choosy about the jobs they take, so they turn down minimum-wage work. d. They prefer focusing on school than work that pays a minimum wage.

Economics