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单选题 Which of the following statements about the price elasticity of demand is correct
学科：经济学导论
时间：2024-01-12 01:38:20
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题目1单选题
In general, elasticity is a measure ofA. the extent to which advances in technology are adopted by producersB. the extent to which a market is competitiveC. how fast the price of a good responds to a shift of the supply curve or demand curveD. how much buyers and sellers respond to changes in market conditions
题目2单选题
How does the concept of elasticity allow us to improve upon our understanding of supply and demandA. Elasticity allows us to analyze supply and demand with greater precision than would be the case in the absence of the elasticity conceptB. Elasticity provides us with a better rationale for statements such as "an increase in x will lead to a decrease in y" than we would have in the absence of the elasticity conceptC. Without elasticity, we would not be able to address the direction in which price is likely to move in response to a surplus or a shortageD. Without elasticity, it is very difficult to assess the degree of competition within a market
题目3单选题
The price elasticity of demand measuresA. buyers' responsiveness to a change in the price of a goodB. the extent to which demand increases as additional buyers enter the marketC. how much more of a good consumers will demand when incomes riseD. the movement along a supply curve when there is a change in demand
题目4单选题
Demand is said to be elastic ifA. the price of the good responds substantially to changes in demandB. demand shifts substantially when income or the expected future price of the good changesC. buyers do not respond much to changes in the price of the goodD. buyers respond substantially to changes in the price of the good
题目5单选题
Which of the following statements about the price elasticity of demand is correctA. The price elasticity of demand for a good measures the willingness of buyers of the good to move away from the good as its price increasesB. Price elasticity of demand reflects the many economic, psychological, and social forces that shape consumer tastesC. Other things equal, if good x has close substitutes and good y does not have close substitutes, then the demand for good x will be more elastic than the demand for good yD. All of the above are correct
题目6单选题
For a good that is a necessityA. quantity demanded tends to respond substantially to a change in priceB. demand tends to be inelasticC. the law of demand often does not applyD. All of the above are correct
题目7单选题
A person who takes a prescription drug to control high cholesterol most likely has a demand for that drug that isA. inelasticB. unit elasticC. elasticD. highly responsive to changes in income
题目8单选题
Other things equal, the demand for a good tends to be more inelastic, theA. fewer the available substitutesB. longer the time period consideredC. more the good is considered a luxury goodD. more narrowly defined is the market for the good
题目9单选题
The demand for Chocolate Chip Cookie Dough ice cream is likely quite elastic becauseA. ice cream must be eaten quicklyB. this particular flavor of ice cream is viewed as a necessity by many ice-cream loversC. the market is broadly definedD. other flavors of ice cream are good substitutes for this particular flavor
题目10单选题
The value of the price elasticity of demand for a good will be relatively large whenA. there are no good substitutes available for the goodB. the time period in question is relatively shortC. the good is a luxury as opposed to a necessityD. All of the above are correct
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