The Longer the Time That Has Elapsed Since the Price

question 78

Multiple Choice

The longer the time that has elapsed since the price of a good changed,the

• A) more elastic the demand for that good.
• B) steeper the demand curve.
• C) less elastic the demand for that good.
• D) smaller the amount of that good bought.
• E) fewer substitutes available for the good.

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Definitions:

Dependent Variable

A variable in scientific research that is affected by changes in another variable, called the independent variable.

Exercise

Physical activities that are performed in order to improve health, maintain fitness, or gain physical strength.

Operational Definition

A clearly defined set of procedures or criteria for identifying and measuring variables or concepts in research.

Empirically Tested

Pertains to a method or statement that has been verified or investigated through observation and experiment.