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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| show | DEMAND
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| show | Inelastic
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| show | Elastic
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| show | Inelastic
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| show | Elastic
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| Demand curve is relatively inelastic when the curve's slope is | show 🗑
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| Demand curve is relatively elastic when the curve's slope is | show 🗑
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| show | Changes
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| show | Doesn't change
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| show | Normal
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| When income elasticity is less than 0, the goods are said to be | show 🗑
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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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| show | No Other
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| show | High
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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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| show | Gradual
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| show | FALSE, Excise taxes are SIN TAXES: beer, cigarettes, etc.
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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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| show | VERTICAL
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| On a graph, DEMAND is PERFECTLY inelastic when the curve is ________ straight line. | show 🗑
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| The demand for paying for HIV medication, surgery... is perfectly | show 🗑
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| The supply curve for downloading mp3s from iTunes is perfectly | show 🗑
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| show | Elastic, price stays the same for any quantity
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| show | Inelastic, there are no seats to sell anymore
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| If the DEMAND curve is perfectly elastic, the _________ of the market bear all of the tax. | show 🗑
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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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| If the DEMAND curve is perfectly inelastic, the _________ of the market bear all of the tax. | show 🗑
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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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| show | Subtract
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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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