China's One-Child Policy

question 65

Multiple Choice

China's one-child policy

• A)is gradually being phased out and will likely become a future "two-child" policy
• B)outlawed abortion in 1978
• C)failed miserably and did not slow the growth rate
• D)was formally abandoned in 1997
• E)has not been altered since its inception in 1978

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Definitions:

More Inelastic

Describing a situation where the demand for a good or service is less sensitive to changes in price, indicating consumers are less likely to reduce their quantity demanded as the price increases.

Elastic Demand

A situation in which the quantity demanded of a good or service significantly changes in response to a change in price.

Close Substitutes

Products or services that can easily replace one another in usage or consumption.

Demand Curves

Graphs showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.