From the mid-1980s until late 2007, the less world's less volatile economies were probably due, at least in part, to good luck

The demand for movies is unit elastic if

A) a 5 percent decrease in the price leads to an infinite increase in the quantity demanded. B) a 5 percent increase in the price leads to a 5 percent decrease in the quantity demanded. C) any increase in the price leads to a 1 percent decrease in the quantity demanded. D) a 5 percent increase in the price leads to a 5 percent increase in total revenue.

Which of the following is NOT a consequence of the introduction of the Medicare program?

A) an increased quantity of medical services demanded B) an increased ability for the elderly to obtain medical services C) an increased ability for the poor to obtain medical services D) a reduced demand for medical services