According to James Madison, Which Institution Would Have "An Immediate

question 50

Multiple Choice

According to James Madison, which institution would have "an immediate dependence on, and an intimate sympathy with, the people"?​

• A) ​The executive (president)
• B) ​Congress
• C) ​the senate only
• D) ​the House only
• E) ​the Supreme Court

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Definitions:

Unit Elasticity

Demand or supply for which the elasticity coefficient is equal to 1; means that the percentage change in the quantity demanded or quantity supplied is equal to the percentage change in price.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price.

Price Elasticity

The degree to which demand for an item is affected by changes in its cost.

Quantity Demanded

The total amount of a product that consumers are willing and able to purchase at a given price.