Which of the Following Statements Is NOT True

question 116

Multiple Choice

Which of the following statements is NOT true?

• A) America's economy is becoming much less American.
• B) A world economy and monetary system are emerging.
• C) Corporations in every corner of the globe are taking advantage of the opportunity to obtain customers globally.
• D) Markets are shifting slowly and in many cases diverging in tastes, trends, and prices.
• E) Innovative transport systems are accelerating the transfer of technology.

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Definitions:

Price Elasticity

The measure of responsiveness of the quantity demanded or quantity supplied of a good to a change in its price.

Daytona 500

An iconic annual NASCAR Cup Series motor race held in Daytona Beach, Florida, known as "The Great American Race."

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good.

Price Elasticity of Demand

A measure of how the quantity demanded of a good changes in response to a change in its price, indicating its sensitivity to price changes.