In General, a Flatter Demand Curve Is More Likely to Be

question 45

Multiple Choice

In general, a flatter demand curve is more likely to be

• A) price elastic.
• B) unit price elastic.
• C) income elastic
• D) price inelastic.

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Definitions:

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, leading to more money flowing out than coming in.

Defense Equipment

Military and defense-related hardware and technology designed for use by the armed forces and security personnel.

Capital Equipment

Capital equipment comprises the long-term assets used in the production of goods and services, such as machinery, buildings, and vehicles, essential for business operations.

Food Items

are consumable products intended for human nutrition, including fruits, vegetables, meats, grains, and dairy products.