Studied by 2 people
Elasticity
________ measures the willingness of buyers or sellers to leave the market when conditions become unfavorable.
Landlords
________ adjust rent but are still under the ceiling policy that was intended to help the poor by making housing more affordable.
supply of labor
The ________ is much less elastic than the demand.
quality of labor
The ________ supplied exceeds the quantity demanded and this results in unemployment.
tax burden
A(n) ________ falls more heavily on the side of the market that is less elastic.
minimum wage
The ________ raises the income of those who have jobs but lowers the incomes of those who can not find jobs.
Note 
Flashcard (44)