-The Fact That There Is a Very Limited Amount of Land

question 211

Multiple Choice

-The fact that there is a very limited amount of land in Hong Kong means the supply of new apartments in Hong Kong is

• A) inelastic.
• B) elastic.
• C) unit elastic.
• D) perfectly elastic.
• E) limited by the demand.

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Definitions:

Inflation

A general rise in the price level.

Public Assistance

Government programs designed to provide financial aid to individuals and families in need, including healthcare, food assistance, and housing subsidies.

Economic Conditions

The state of an economy at a given time, including factors like unemployment rates, inflation rates, and GDP growth.

Charles Murray

An American political scientist known for his controversial works on intelligence and social policy.