The Elasticity of Supply for Airplane Travel One Year in Advance

question 149

Multiple Choice

The elasticity of supply for airplane travel one year in advance of the departure date is most likely to be

• A)substantially lower than -1.
• B)between -1 and zero.
• C)between zero and 1.
• D)approximately equal to 1.
• E)greater than 1.

---

Definitions:

Pure Land

A branch of Mahayana Buddhism focusing on the devotion to Amitabha Buddha, aiming for rebirth in his Pure Land, a place of bliss.

Ceramic Tile

A durable tile made from ceramic materials like clay, used for covering floors, walls, and other surfaces.

Horyuji

One of the oldest and most significant temples in Japan, known for its wooden architecture, ancient artifacts, and as a repository of Japanese art history.

Kondo

Japanese, “golden hall.” The main hall for worship in a Japanese Buddhist temple complex. The kondo contained statues of the Buddha and the bodhisattvas to whom the temple was dedicated.