As people have more time to adjust to a price change,
a. demand becomes more elastic, and supply becomes less elastic.
b. demand becomes less elastic, and supply becomes more elastic.
c. both supply and demand become less elastic.
d. both supply and demand become more elastic.
e. elasticity of both demand and supply tends toward unity.
D
Economics
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Keynes was especially concerned with explaining the
A) recession of 1920-21. B) low levels of output and employment during the Great Depression. C) strong economic growth of the 1920s. D) high unemployment in Great Britain during the 1920s.
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A bride accepting a proposal only if the ring is expensive enough is a
a. Screening mechanism b. Signaling mechanism c. Way to waste money d. None of the above
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