To Say That Gasoline Has a Low Price Elasticity of Demand

question 132

Multiple Choice

To say that gasoline has a low price elasticity of demand is to say the quantity demanded of gasoline

• A)has a relatively flat demand curve.
• B)has a horizontal demand curve.
• C)is not sensitive to changes in gasoline prices.
• D)is very sensitive to changes in gasoline prices.
• E)is very sensitive to changes in consumer income.

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Definitions:

Hippocampus

A region of the brain involved in the formation of new memories and is also associated with learning and emotions.

Lateralization

The tendency for some neural functions or cognitive processes to be more dominant in one hemisphere of the brain than the other.

Amygdala

A region of the brain involved in experiencing emotions, such as fear and pleasure.

Motor Cortex

A region of the cerebral cortex involved in the planning, control, and execution of voluntary movements.