If New York City Expects That an Increase in Bus

question 138

Multiple Choice

If New York City expects that an increase in bus fares will raise mass transit revenues, it must think that the demand for bus travel is:

• A) elastic.
• B) unit elastic.
• C) inelastic.
• D) perfectly inelastic.
• E) 10.

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Definitions:

National Front

A political party or movement in various countries, often characterized by its nationalist, xenophobic, or far-right ideologies.

Algerian War

A conflict between France and the Algerian National Liberation Front from 1954 to 1962, leading to Algeria gaining its independence from France.

Common Currency

A common currency refers to a monetary system in which multiple countries or territories use the same currency, facilitating trade and economic policy coordination.

Nationalist Party

A political party that aims to promote the interests of a particular nation or group of people, especially in terms of self-governance and sovereignty.