Which economic concept is defined as the measure of how responsive consumers are to price change?

In the context of the neoclassical growth model, which of the following does NOT explain the growth rates of countries which are initially poor?

A) nations which are below their steady-state growth paths will grow more slowly until they reach the steady state B) the rate of return is higher in poor countries C) capital flows from rich countries to poor countries D) the passage of time allows poor countries to adopt the productive techniques of rich countries.

Which of the following statements is NOT true about the rationing of goods?

A) Goods can only be rationed by price. B) Goods can be rationed on a first come first serve basis. C) Goods can be rationed by random. D) Goods can be rationed by the use of coupons.