Economists Use Elasticity to Measure the Responsiveness of Quantity to a Change

question 115

Multiple Choice

Economists use elasticity to measure the responsiveness of quantity to a change in price rather than the slope of the demand curve because elasticity is

• A) independent of the units of measurement.
• B) dependent on the units of measurement.
• C) easier to calculate.
• D) harder to calculate.
• E) always negative whereas the slope is always positive.

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Definitions:

Spinal Cord

is a long, thin, tubular structure made up of nervous tissue that extends from the medulla oblongata in the brainstem to the lumbar region of the spinal column, crucial for transmitting messages between the brain and the body.

Somatic Nervous System

A part of the peripheral nervous system that handles voluntary control of body movements through the control of skeletal muscles.

Knee-Jerk Reflex

The knee-jerk reflex is a sudden kicking movement of the lower leg in response to a sharp tap on the patellar tendon.

Interneurons

A type of neuron that transmits impulses between other neurons, especially as part of a reflex arc.