Choose the Word or Phrase in [ ] Which Will

question 130

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.
-"Long-term care" is a term used to describe [nursing home | extended hospital].

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Definitions:

Elastic

A characteristic of a good or service that indicates a high sensitivity of quantity demanded or supplied to changes in its price.

Normal Goods

Goods for which demand increases as the income of the consumer increases and falls when the income of the consumer decreases, all else being equal.

Incomes

Funds earned, frequently in a regular pattern, whether from occupational activities or investments.

Demand

The quantity of a good or service that consumers are willing and able to purchase at different prices during a specific time period.