The greater the amount of time that passes after a price change, the
A) less elastic supply becomes.
B) more elastic supply becomes.
C) more negative supply becomes.
D) steeper the supply curve becomes.
E) None of the above answers is correct.
B
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The tuna-dolphin dispute was ruled by the WTO in favor of nations that _______________. The ruling said that trading partners _______________ bar imports based on _______________.
a. exported tuna to the United States and Europe; could not; a production process such as the size of the nets used b. imported tuna; could; the production process c. cared about wildlife in the seas; could; concerns over the safety of dolphins d. produced seafood products; could not; the way the products were used, such as in pet food
A good for which demand decreases when income increases is known as a(n) ________ good
A) normal B) inferior C) substitute D) complementary