Choose the Word or Phrase in [ ] Which Will

question 168

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Dottie and Jasper have a joint checking account with rights of survivorship.If Jasper dies,his portion of the account [will | will not] automatically go to Dottie.

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Definitions:

Price Inelastic

Describes a situation where the demand for a product does not significantly change with a change in its price.

Gasoline Demand

The total quantity of gasoline that consumers are willing and able to purchase at various prices, within a given time period.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity of the good supplied.

Elastic Supply

A situation where the quantity supplied of a good or service changes significantly in response to changes in price.