A Good Will Have a More Inelastic Demand, the

question 71

Multiple Choice

A good will have a more inelastic demand, the

• A)greater the availability of close substitutes.
• B)broader the definition of the market.
• C)longer the period of time.
• D)more it is regarded as a luxury.

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Definitions:

Know-Nothings

A political movement in the mid-19th century United States that was anti-immigrant and anti-Catholic, advocating for strict immigration laws.

Pro-Protestant

Favoring or supporting the Protestant faith or its adherents.

Anti-Temperance

Opposition to the temperance movement, which advocated for the moderation or total abstinence from alcohol consumption.

Pro-Slavery

Supporting the institution of slavery; typically refers to historical positions favoring the legal and social system wherein people are owned by others.