The Chair of a Committee Is from the Majority Party

question 12

Multiple Choice

The chair of a committee is from the majority party, but the minority party gets to select a committee leader as well and that member is known as the _________________.

• A) Minority Leader
• B) Ranking Member
• C) Committee Vicechair
• D) Minority Designee

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Definitions:

Elastic

Describing a situation where the demand or supply for a product responds significantly to changes in price.

OPEC

The Organization of the Petroleum Exporting Countries, an intergovernmental organization of 13 oil-producing nations that collaborate to manage the supply and set the price of oil.

Elastic

Describes a situation where the quantity demanded or supplied of a good or service significantly changes in response to a change in price.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, with higher elasticity indicating greater responsiveness.