Which of the Following Can Be Defined as the Long-Term

question 5

Multiple Choice

Which of the following can be defined as the long-term trends in societies resulting from the interplay of continuity, innovation, and selection?

• A) postmodernism
• B) negotiated order
• C) industrialization
• D) sociocultural evolution

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Definitions:

Crowding-out Effect

A situation where increased government spending leads to a reduction in private sector investment due to higher interest rates.

Aggregate Demand

The total amount of goods and services demanded in the economy at a given overall price level and in a given time period.

Aggregate Demand

The total demand for all goods and services in an economy at a given overall price level and at a given time.

Consumption

The use of goods and services by households.