If it is difficult to substitute for a good in the short run, but easy in the long run, then
A) the elasticity of demand is more elastic in the short run.
B) the elasticity of demand is more elastic in the long run.
C) the good is an inferior good.
D) elasticity changes along the demand curve.
B
Economics
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The usual response of the banking system to new government regulations is
A) evasion through whatever means are necessary. B) strict compliance. C) an attempt to circumvent the regulations through financial innovation. D) bankruptcy.
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