In Which Case Will the Price Change Be the Greatest

question 43

Multiple Choice

In which case will the price change be the greatest (assuming the shifts described are the same size) ?

• A) Demand is inelastic, and supply shifts to the left.
• B) Supply is perfectly elastic, and demand shifts to the left.
• C) Demand is elastic, and supply shifts to the left.
• D) Supply is elastic, and demand shifts to the left.

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Definitions:

Mexico

A country in North America, known for its rich cultural heritage, diverse landscapes, and history that encompasses ancient civilizations, colonial periods, and modern development.

Nativism

The political policy of promoting the interests of native inhabitants against those of immigrants, including by supporting immigration-restriction measures.

Liberty Party

Abolitionist political party that nominated James G. Birney for president in 1840 and 1844; merged with the Free Soil Party in 1848.

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