When the price of gasoline is $2.20 per gallon, 11 million gallons are demanded, and when the price of gasoline goes up to $2.60 per gallon, 10 million gallons are demanded. The gasoline in this range has a(n)
A) elastic demand.
B) inelastic demand.
C) unit elastic demand.
D) perfectly elastic demand.
B
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The S&P 500 index includes the stocks of 500 largest companies in the U.S
a. True b. False Indicate whether the statement is true or false
The price elasticity of demand measures the responsiveness of quantity demanded to changes in price
a. True b. False
According to the Incentive Principle:
A. people tend to do more of something when its benefits are greater. B. benefits are more important than costs in making a decision. C. it is irrational to perform volunteer services. D. people will always take the highest-paying job they are offered.
What is the immigration problem for DVCs?
A. Too many people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the most productive DVC workers B. Too many people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the least productive DVC workers C. Too few people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the most productive DVC workers D. Too few people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the least productive DVC workers