How Do Liberals Differ from Conservatives

question 10

Multiple Choice

How do liberals differ from conservatives?

• A)Liberals are more likely than conservatives to envision a wide scope for the central government,often involving policies that aim to promote military intervention.
• B)Liberals are more likely than conservatives to envision a wide scope for the central government,often involving policies that aim to promote equality.
• C)Among people over the age of 30,slightly more are liberal than conservative.
• D)Conservatives are more likely than liberals to want to tax our way out of debt and deficit problems.-Consider This: Liberals have tended to embrace the idea of a broad,expansive,and activist federal government.

---

Definitions:

Long Run

A time period in economic analysis during which all factors of production and costs can be variable, allowing for full adjustment to changes in market conditions.

Variable Costs

Costs that vary directly with the level of production or output, such as materials and labor.

Fixed Costs

Costs that do not change with the level of output or sales, such as rent or salaries.

Profit-Maximizing

The operational method a firm adopts to calculate the pricing and output that bring in the highest profit.