Supply and Demand Both Tend to Be More Elastic in the Long

question 2

True/False

Supply and demand both tend to be more elastic in the long run and more inelastic in the short run.

---

Definitions:

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord.

Autonomic Nervous System

The part of the nervous system that controls involuntary physiological functions such as heart rate, digestion, and respiratory rate.

Somatic Nervous System

A component of the peripheral nervous system responsible for the voluntary movements of the body through skeletal muscles.

Endocrine System

The body’s “slow” chemical communication system; a set of glands that secrete hormones into the bloodstream.