Examlex
Which of the following has not been a long-term trend in the Australian economy since 1901?
Demand Curve
A demand curve is a graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.
More Elastic
Describes a scenario where the quantity demanded or supplied of a good or service is more responsive to changes in its price.
Income Elasticity
A measure used in economics to show how the demand for a good or service changes in response to changes in consumer income.
Elapses
Refers to the passage of time or the process of something coming to an end or expiring.
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