"The Department of Agriculture Came Out Today with Its Prediction

question 7

Multiple Choice

"The Department of Agriculture came out today with its prediction for food price next year-4 to 5 percent increases on top of this year's already steep gains… Eggs, dairy products and cereals are up 10 percent... But the USDA says another big part of the American diet has seen only moderate price increases. Beef, poultry and pork will be up only 3 percent this year." Suppose the price elasticity of demand for beef is elastic. Consumption would then

• A) decrease by greater than 3 percent.
• B) increase by greater than 3 percent.
• C) decrease by less than 3 percent.
• D) increase by less than 3 percent.

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Definitions:

CT Scans

Imaging procedures that use computer-processed combinations of many X-ray measurements taken from different angles to create cross-sectional images of the body.

MRIs

Magnetic Resonance Imaging, a medical imaging technique used to visualize internal structures of the body in detail.

Neuron

A specific type of cell that sends nerve signals; known as a neuron.

Neural Communication

The process by which neurons transmit information through electrical and chemical signals across synapses.