经济学原理应练习 05.docVIP

Chapter 5 Elasticity and Its Applications Multiple Choice 1. In general, elasticity is a measure of a. the extent to which advances in technology are adopted by producers. b. the extent to which a market is competitive. c. how fast the price of a good responds to a shift of the supply curve or demand curve. d. how much buyers and sellers respond to changes in market conditions. ANS: D PTS: 1 DIF: 1 REF: 5-0 TOP: Elasticity MSC: Definitional 2. When studying how some event or policy affects a market, elasticity provides information on the a. direction of the effect on the market. b. magnitude