The federal government has a Constitutional requirement to operate a balanced budget each fiscal year

If the demand for a good is elastic, then

A) people do not change the quantity they demand when the price of the good changes. B) a change in price leads to a smaller percentage change in the quantity demanded. C) people substantially decrease the quantity of the good they buy if its price increases by a small percentage. D) a change in the quantity demanded is smaller than the change in price. E) the quantity demanded divided by the price exceeds 1.00.

If a consumer goes to the store and purchases a DVD player, the shopper is buying both a _____.

(A) Durable and intermediate good. (B) Nondurable and final good. (C) Durable and final good. (D) Nondurable and intermediate good.