If the demand curve is a straight line and has the normal negative slope, then as quantity demanded increases, demand
a. becomes more elastic
b. becomes more inelastic
c. is unitary elastic
d. rises and then falls
e. is an inverse function of supply
B
Economics
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Which of the following statements is true?
A) Trade leads to inefficient allocation of resources. B) Trade discourages workers to specialize in production. C) International trade creates supply bottlenecks. D) Trade allows people to choose occupations that suit their talents.
Economics
Refer to Figure 2-4. Consider the following movements:
a. from point V to point W b. from point W to point Y c. from point Y to point Z Which of the movements listed above represents advancements in technology with respect to both plastic production and food production? A) b and c only B) a, b, and c C) c only D) b only
Economics