Which of the following is true of price elasticity of demand?

A. The price elasticity of demand is only defined by the competitive conditions in a country.

B. Demand is said to be inelastic when a large change in price produces a large change in demand.

C. Demand is said to be elastic when a large change in price produces a small change in demand.

D. Price elasticity tends to be greater in countries with low income levels.

E. The elasticity of demand is inversely proportional to the number of competitors offering a particular product.

D

Business

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To withstand a challenge that they unlawfully discriminate, employment tests must:

A. not be given except for safety sensitive positions. B. not be given without the individual's consent. C. be related to the requirements of the job. D. be given and scored by a source independent of the employer.

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Journalizing a transactions involves ____.

a. preparing a summary of account balances b. posting the account balances in the chart of accounts c. recording the data only in the journal d. calculating the balance in an account using journal entries

Business