Refer to the Above Graph

question 27

Multiple Choice

Refer to the above graph.If the production possibilities curve for an economy is at CD but the economy is operating at point X, the reasons are most likely to be:

• A)technological progress and industrial change.
• B)increases in the quantity and the quality of resources.
• C)improvement in labour productivity and the number of worker-hours.
• D)lack of full employment and inefficient allocation of resources.

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Definitions:

Values

Core beliefs or standards that guide behavior and judgment.

Norms

Established standards of behavior maintained by a society or group that guide the actions of its members.

Cultural Imperialism

The dominance of one culture over another, historically often through colonization, which imposes its values, practices, and way of life onto another culture.

American Cultural Values

The set of core beliefs and ideals that significantly influence the social behavior and norms in the United States, such as individualism, freedom, and competitiveness.