The more time that elapses, the
A. more price elastic is the demand for the product.
B. greater the income elasticity of demand for a product.
C. smaller the income elasticity of demand for the product.
D. less price elastic is the demand for the product.
Answer: A
You might also like to view...
When will the long-run supply curve of a perfectly competitive market shift upward?
Which of the following multinational agreements allows the international movement of workers?
a. NATO b. The European Union c. The group of G-8 d. NAFTA e. The United Nations Accords
Personal income and Social Security payroll taxes are currently the largest sources of government revenue.
A. True B. False C. Uncertain
If in some year gross investment was $120 billion and net investment was $65 billion, then in that year the country's capital stock:
A. may have either increased or decreased. B. increased by $65 billion. C. increased by $55 billion. D. decreased by $55 billion.