If the Demand Curve for a Good Increases and Decreases

question 16

Multiple Choice

If the demand curve for a good increases and decreases cyclically along a relatively Inelastic (or steep) supply curve, then, in this market, the size of price fluctuations will be __________ than the size of quantity fluctuations.

• A) relatively less
• B) the same
• C) relatively greater
• D) relatively less or the same but not relatively greater

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Definitions:

13th Amendment

Amendment to the United States Constitution, ratified in 1865, which abolished slavery and involuntary servitude, except as punishment for a crime.

Emancipation

The act of being freed from restraint, bondage, or slavery, often used in the context of the abolition of slavery in the United States.

President Johnson

Lyndon B. Johnson, the 36th President of the United States, who served from 1963 to 1969, notable for his domestic policies and involvement in the Vietnam War.

Reconstruction

The period after the American Civil War (1865-1877) during which the United States attempted to redress the inequities of slavery and its political, social, and economic legacy.