A University Enrolled 200 Graduate Students in the Fall of 2015

question 89

Multiple Choice

A university enrolled 200 graduate students in the Fall of 2015. However, the enrollment rate was only slightly affected following a 12-percent hike in tuition the following fall. This illustrates ________ demand.

• A) derived
• B) negative
• C) highly elastic
• D) composite
• E) inelastic

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Definitions:

Tariffs

Taxes imposed by a government on imported goods.

Imported Oil

Oil that is brought into a country from another, typically used as a critical input for energy production and transportation.

Tariff

A tax imposed by a government on goods and services imported from other countries to increase their price and encourage or protect domestic industry.

Imported Oil

Oil that is bought from foreign countries to meet domestic consumption demands.