The slope of a demand curve is not used to measure the price elasticity of demand because
A) the slope of a linear demand curve is not constant.
B) the slope of a line cannot have a negative value.
C) the measurement of slope is sensitive to the units chosen for price and quantity.
D) the slope of the demand curve does not tell us how much quantity changes as price changes.
Answer: C
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Needs-tested spending is defined as
A) spending by the President on the White House. B) spending on programs for people qualified to receive benefits. C) spending that increases in expansions and decreases in recessions. D) taxes paid by those qualified by their income. E) spending by Congress on its own perks of office.
When banks operate to match savers and borrowers to increase the efficiency of financial markets, their role is known as
A) financial intermediary. B) lender of the last resort. C) financial market regulator. D) central bank.
In which of the following ways is a monopolistically competitive firm like a perfectly competitive firm?
A. Short-run economic profits are always positive. B. Short-run economic profits may be positive, negative, or zero. C. Long-run economic profits are negative. D. Long-run economic profits are positive.
According to the text, how has the global shift in economic growth occurred since 2000?
A. High economic growth has shifted from emerging nations to developing nations. B. Emerging and developing nations have experienced negative economic growth rates while advanced nations have continued to experience high economic growth rates. C. Economic growth has shifted downward for all nations in the world. D. High economic growth has shifted from advanced nations to emerging nations.