The Sensitivity of Demand for a Product Relative to Changes

question 90

Multiple Choice

The sensitivity of demand for a product relative to changes in income is called ________.

• A) income elasticity
• B) demand shaping
• C) income distribution
• D) market intensity

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Definitions:

Ostend Manifesto

A document from 1854 where US diplomats recommended the acquisition of Cuba by any means necessary, to expand the territory for slavery.

Monroe Doctrine

President James Monroe’s declaration to Congress on December 2, 1823, that the American continents would be thenceforth closed to European colonization, and that the United States would not interfere in European affairs.

Natural Rights

Fundamental rights believed to be inherent to humans, independent of any government or social system, often including life, liberty, and the pursuit of happiness.

Lincoln-Douglas Debates

A series of seven debates in 1858 between Abraham Lincoln and Stephen A. Douglas focusing on the issue of slavery in American territories.