Since It Is Always a Negative Number, Economists Use the Convention

question 120

Multiple Choice

Since it is always a negative number, economists use the convention of taking the absolute value of:

• A) income elasticity of demand.
• B) cross price elasticity of demand.
• C) price elasticity of supply.
• D) price elasticity of demand.
• E) any elasticity calculation.

---

Definitions:

Success Rate

The proportion of attempts or efforts that result in achievement or attainment of a desired goal or outcome.

Genetic Abnormalities

Deviations from the normal sequence of genes that can lead to medical or physical issues.

Cystic Fibrosis

A genetic disorder that affects the lungs and digestive system, characterized by the production of thick, sticky mucus that can lead to respiratory and digestive problems.

Diabetes

A group of diseases that affect how the body uses blood glucose, often leading to chronic health issues.