NARRBEGIN: Exhibit 5-18 Exhibit 5-18

question 81

Multiple Choice

NARRBEGIN: Exhibit 5-18
Exhibit 5-18

-The curve shown in Exhibit 5-18 could represent

• A) perfectly elastic demand or supply
• B) perfectly inelastic supply or perfectly elastic demand
• C) perfectly elastic supply or perfectly inelastic demand
• D) perfectly inelastic supply or demand
• E) perfectly inelastic supply or demand which is unit elastic

---

Definitions:

Marginal Utility

Marginal Utility is the additional satisfaction or benefit gained from consuming one more unit of a product or service.

Total Utility

Total contentment experienced through the use of a particular volume of goods or services.

Social Security System

The federal system of social insurance programs. It includes three separate programs that are financed through separate funds: the Old Age and Survivors Insurance (OASI) program, the Disability Insurance (DI) program, and the Health Insurance (HI), or Medicare program.

Tax Receipts

Government income due to taxation.