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A 16-year-old boy shoots a neighbor for no apparent reason.This vivid example strongly influences people's judgments of all teen boys because people
Price-Elastic
describes a market condition where the demand for a product changes significantly in response to a change in its price.
Consumer Spending
The total expenditures by households on goods and services, which is a primary component of aggregate demand in an economy.
Increase
A rise in quantity or quality in a given context, such as price, value, or productivity.
Price Elasticity
An index reflecting the degree to which the demand for a product varies with a shift in its cost.
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