alleryMatch gold scarcity: 1. Gold: p. Rare metal 2. Ore: q. Fixed cap 3. PES: r. Inelastic
A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
Because availability of raw mineral deposits caps mining production regardless of price, gold supply is highly inelastic.
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