Which of the following statements correctly differentiates between the slope of the demand curve and price elasticity of demand along a linear demand curve?
A) The price elasticity of demand for a good is the same at different points on the demand curve, whereas the slope of the demand curve varies depending on the point where it is measured.
B) The price elasticity of demand for a good varies along the demand curve, whereas the slope of the demand curve remains the same at different points on the curve.
C) The price elasticity of demand is a ratio, whereas the slope of a demand curve is a product.
D) The price elasticity of demand is a product, whereas the slope of a demand curve is a ratio.
B
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The main argument against Fed independence is that
A) in a democracy elected officials should make public policy. B) monetary and fiscal policy would be easier to coordinate if the Fed were not independent. C) the Fed has proven irresponsible on many occasions. D) congressional control was tried during the 1960s and it worked well.
The original rationale for government involvement in health care was _____
a. in helping to prevent and control contagious disease b. the dissemination of health care information c. the provision of health care insurance for the needy d. the provision of health care for the elderly