Study Ho!
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | Close
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| show | Very Few
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| Deadweight loss occurs when the __________ curve is perfectly elastic and PRODUCERS bear all of the tax | show 🗑
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| Necessities are relatively | show 🗑
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| show | Elastic
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| show | Inelastic
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| It the price of gas goes up in A YEAR, the elasticity is relatively | show 🗑
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| Demand curve is relatively inelastic when the curve's slope is | show 🗑
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| show | Gradual
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| show | Changes
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| show | Doesn't change
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| When income elasticity is greater than 0, the goods are said to be | show 🗑
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| show | Inferior
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| show | Substitutes
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| When price elasticity of two goods is less than 0, the goods are | show 🗑
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| Supply is elastic if there are ________ alternative uses. | show 🗑
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| Supply is inelastic if there are ________ alternative uses. | show 🗑
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| Supply is elastic if availability is _______ | show 🗑
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| Supply is inelastic if availability is __________ | show 🗑
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| show | Longer
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| Supply is inelastic if __________ time frame. | show 🗑
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| Supply curve is relatively inelastic when the curve's slope is | show 🗑
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| Supply curve is relatively elastic when the curve's slope is | show 🗑
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| Sales taxes are Excise Taxes (true or false) | show 🗑
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| On a graph, DEMAND is PERFECTLY elastic when the curve is ________ straight line. | show 🗑
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| show | HORIZONTAL
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| On a graph, SUPPLY is PERFECTLY inelastic when the curve is ________ straight line. | show 🗑
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| show | VERTICAL
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| show | Inelastic, you pay ANY price
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| show | Elastic, there's is no PHYSICAL QUANTITY involved
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| show | Elastic, price stays the same for any quantity
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| The SUPPLY curve when Aloha Stadium is sold out is perfectly | show 🗑
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| show | Producers
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| If the SUPPLY curve is perfectly elastic, the _________ of the market bear all of the tax. | show 🗑
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| show | Consumers
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| If the SUPPLY curve is perfectly inelastic, the _________ of the market bear all of the tax. | show 🗑
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| When the government imposes a tax on CONSUMERS, _________ the tax amount from the DEMAND curve equation. | show 🗑
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| When the government imposes a tax on PRODUCERS, _________ the tax amount to the DEMAND curve equation. | show 🗑
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