Which of the Following Factors Would Indicate an Inelastic Demand

question 264

Multiple Choice

Which of the following factors would indicate an inelastic demand?

• A) The good is a necessity, rather than a luxury.
• B) The good represents a small fraction of the budget.
• C) Demand is measured over a shorter period of time.
• D) all of the above

Recognize the significance of self-assembly processes in the evolutionary history of cellular membranes.

Appreciate the contribution of external factors, like meteorites, in providing organic compounds to early Earth.

Understand the attributes of molecules (e.g., RNA, fatty acids) that contributed to the formation and evolution of life.

Understand the basic principles of Kantian ethics and the categorical imperative.

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Definitions:

Easy-Money Policies

Monetary policies intended to stimulate the economy by increasing the money supply and reducing interest rates to encourage borrowing and spending.

Economic Expansion

Economic expansion refers to a phase where an economy experiences increased levels of activity and growth across its industries and sectors, typically marked by rising GDP.

Thaddeus Stevens

was a nineteenth-century U.S. congressman and a fierce advocate for the abolition of slavery and equal rights during and after the Civil War.

Confederate States

The Confederate States of America was a collection of 11 southern states that seceded from the United States in 1860-1861, leading to the American Civil War.