Supply and Demand Both Tend to Be More Elastic in the Long

question 2

True/False

Supply and demand both tend to be more elastic in the long run and more inelastic in the short run.

---

Definitions:

Life Expectancy

The average number of years an individual is expected to live, based on current mortality and health trends.

Richest 1 Percent

The segment of the population that holds the majority of wealth and economic power in a society, often discussed in the context of income inequality.

Poorest 1 Percent

The segment of a population that holds the least wealth and financial resources, often highlighting issues of economic inequality.

Gender Role Expectations

The societal norms dictating the behaviors, interests, and responsibilities appropriated to individuals based on their perceived gender.