A demand relationship in which the quantity demanded changes exactly in proportion to the change in price is

A) elastic.
B) unit-elastic.
C) inelastic.
D) consistent with zero elasticity.


Answer: B

Economics

You might also like to view...

By the summer of 2008, about what percent of subprime mortgages were overdue by at least 30 days?

A) 10% B) 25% C) 34% D) 50%

Economics

In 2016, Social Security and Medicare payments accounted for almost _____ of federal outlays

a. 7 percent b. 25 percent c. 15 percent d. 38 percent e. 52 percent

Economics

A focus on economic profit

A) will change the behavior of the firm. B) will cause a management turnover. C) will cause stock prices to fall. D) will created on added value.

Economics

Which of the following statements is false?

A. One of the basic principles capitalism is based on is to "trust no one." B. To have real competition in a market economy no one business should be able to have any influence over price. C. A basic trade-off exists between the goals of equity and efficiency for a society. D. The forces of supply and demand will NOT automatically lead to an equitable distribution of income.

Economics