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ANSWER: d
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.22 - LO: 5-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
KEYWORDS: BLOOM'S: Knowledge
2. Elasticity is
a. a measure of how much buyers and sellers respond to changes in market conditions.
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
1098 Elasticity and Its Application
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.22 - LO: 5-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
KEYWORDS: BLOOM'S: Knowledge
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Elasticity and Its Application 1099
3. When studying how some event or policy affects a market, elasticity provides information on the
a. equity effects on the market by identifying the winners and losers.
b. magnitude of the effect on the market.
c. speed of adjustment of the market in response to the event or policy.
d. number of market participants who are directly affected by the event or policy.
ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.22 - LO: 5-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
KEYWORDS: BLOOM'S: Comprehension
4. When studying how some event or policy affects a market, elasticity provides information on the
a. change in the costs of production.
b. tradeoff between equality and efficiency.
c. effect on the budget deficit or surplus.
d. direction and magnitude of the effect.
ANSWER: d
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.22 - LO: 5-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
KEYWORDS: BLOOM'S: Comprehension
NOTES: r
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
1100 Elasticity and Its Application
5. How does the concept of elasticity allow us to improve upon our understanding of supply and
demand?
a. Elasticity allows us to analyze supply and demand with greater precision than would be the case
in the absence of the elasticity concept.
b. 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 concept.
c. 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 shortage.
d. Without elasticity, it is very difficult to assess the degree of competition within a market.
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.22 - LO: 5-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
KEYWORDS: BLOOM'S: Comprehension
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.22 - LO: 5-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Application
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Elasticity and Its Application 1101
ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.22 - LO: 5-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Application
8. Which of the following statements about the consumers’ responses to rising gasoline prices is
correct?
a. About 10 percent of the long-run reduction in quantity demanded arises because people drive
less and about 90 percent arises because they switch to more fuel-efficient cars.
b. About 90 percent of the long-run reduction in quantity demanded arises because people drive
less and about 10 percent arises because they switch to more fuel-efficient cars.
c. About half of the long-run reduction in quantity demanded arises because people drive less and
about half arises because they switch to more fuel-efficient cars.
d. Because gasoline is a necessity, consumers do not decrease their quantity demanded in either
the short run or the long run.
ANSWER: c
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.22 - LO: 5-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Application
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
1102 Elasticity and Its Application
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Elasticity and Its Application 1103
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
4. Which of the following statements about the price elasticity of demand is correct?
a. The price elasticity of demand for a good measures the willingness of buyers of the good to buy
less of the good as its price increases.
b. Price elasticity of demand reflects the many economic, psychological, and social forces that
shape consumer tastes.
c. 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 y.
d. All of the above are correct.
ANSWER: d
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
1104 Elasticity and Its Application
ANSWER: d
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
ANSWER: c
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Elasticity and Its Application 1105
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
8. If the quantity demanded of a certain good responds only slightly to a change in the price of the
good, then the
a. demand for the good is said to be elastic.
b. demand for the good is said to be inelastic.
c. law of demand does not apply to the good.
d. demand curve for the good shifts only slightly in response to a change in price.
ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
1106 Elasticity and Its Application
ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
ANSWER: c
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Elasticity and Its Application 1107
ANSWER: d
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Knowledge
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
1108 Elasticity and Its Application
13. Which of the following is not a determinant of the price elasticity of demand for a good?
a. the time horizon
b. the steepness or flatness of the supply curve for the good
c. the definition of the market for the good
d. the availability of substitutes for the good
ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
NOTES: r
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Elasticity and Its Application 1109
ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
1110 Elasticity and Its Application
ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Elasticity and Its Application 1111
ANSWER: a
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
20. The value of the price elasticity of demand for a good will be relatively large when
a. there are no good substitutes available for the good.
b. the time period in question is relatively short.
c. the good is a luxury rather than a necessity.
d. All of the above are correct.
ANSWER: c
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.23 - LO: 5-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Elasticity
Price Elasticity of Demand
KEYWORDS: BLOOM'S: Comprehension
© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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the brain at this period of life leads to an early death, while children
affected with partial atrophy may continue to live, though almost
always in a state of idiocy. The forms mostly observed in children are
unilateral or bilateral atrophy of the cerebrum, partial or almost entire
absence of the cerebellum, imperfect development of the large
cerebral ganglia, and slight partial atrophy of the medulla oblongata.
The large commissures as well as the crura cerebri are very seldom
found atrophied.
The most frequent and, from a practical point of view, the most
important of these forms is the unilateral atrophy of the cerebrum, for
the reason that in a mild form it is to a certain degree consistent with
the mental and physical development of the child. It is mostly found
on the left side. In some cases the atrophy extends evenly
throughout the hemisphere, while in others it affects more or less
one or the other lobe. The loss in the bulk of the hemisphere may
amount to only a slight diminution, or to as much as to one-half of
the normal size. Its thickness above the ventricle may be reduced to
a few millimeters; in some cases even the membranes of the brain
may lie in contact with the ependyma. The ventricle of the atrophied
hemisphere is almost always enlarged. The convolutions of the
cerebrum are very narrow, sometimes quite indistinct. One or both of
the corpora striata also are generally found atrophied. In many cases
even the atrophy extends to one of the crura cerebri and to the
pyramid of the same side, and to the anterior and lateral columns of
the spinal cord on the opposite side. Frequently, one or the other
lateral half of the cerebellum also is found affected. The condition of
the substance of the cerebrum is nearly the same as in the senile
atrophy of the brain to be described hereafter. The skull is mostly
thickened on the side of the atrophy, and frequently asymmetrical.
In senile atrophy of the brain, which represents the most simple form
of total atrophy of this organ, the first symptoms frequently appear
toward the end of some intercurrent disease. They consist in a very
slow and gradually increasing derangement of the cerebral functions,
associated with a general loss of innervation, manifesting itself by
talkative wanderings of the mind, restless sleep, hallucinations,
foolish activity, attacks of tremor senilis, etc. The intellectual
functions diminish and the memory is lost. The physical forces also
gradually sink, the tremor senilis increases, and the patient, no more
able to walk, becomes confined to bed. Finally, a relaxation of the
sphincters takes place, and death is produced by the disturbance of
the automatic functions of deglutition and respiration.
Introduction.
11 Archiv. de Physiologie, 1871-72, p. 319; also to his “Leçons sur le Syphilis hered.,”
Progrès méd., 1877 and 1878.
14 Ibid., p. 14.
The fact that nervous syphilis may occur many years after the
cessation of all apparent evidences of the diathesis is of great
practical importance, especially as the nervous system is more
prone to be attacked when the secondaries have been very light
than when the earlier manifestations have been severe. I have
repeatedly seen nervous syphilis in persons whose secondaries
have been so slight as to have been entirely overlooked or forgotten,
and who honestly asserted that they never had had syphilis,
although they acknowledged to gonorrhœa or to repeated exposure,
and confessed that their asserted exemption was due to good
fortune rather than to chastity.
33 Ibid.
34 Ibid.