A linear demand curve has a:
A. constant slope and a constant elasticity, but they need not be equal.
B. changing slope, but constant elasticity.
C. constant slope, but changing elasticity.
D. slope which is the same as the elasticity.
Answer: C
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If the balance on the current account is $346 billion and the balance on the financial account is -$204 billion, what is the balance on the capital account, assuming no statistical discrepancy?
A) $550 billion B) $142 billion C) $0 D) -$142 billion
As short-term interest rates began to rise in 2005, which one of the following mortgage loan categories experienced the largest increase in default and foreclosure rates?
a. fixed rate mortgages to prime borrowers b. fixed rate mortgages to sub-prime borrowers c. adjustable rate mortgages extended to both prime and sub-prime borrowers d. adjustable rate mortgages to sub-prime borrowers only; the default and foreclosure rates of these loans extended to prime borrowers declined