Which Statement Is TRUE of Stereotypes

question 76

Multiple Choice

Which statement is TRUE of stereotypes?

• A) They are problematic mainly when they are not applied rigidly enough.
• B) They are rarely useful for guiding behavior.
• C) They reflect one's basic tendency to generalize in order to predict future events.
• D) All of the statements are true.

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Definitions:

Relatively Inelastic

Relatively inelastic refers to a situation where the demand for a good or service changes little when its price changes; the percentage change in demand is smaller than the percentage change in price.

Perfectly Elastic

This term describes a situation in market economics where the quantity demanded or supplied responds infinitely to changes in price.

Relatively Elastic

Describes a situation where the quantity demanded or supplied changes significantly in response to a change in price.

Unit Elastic

A demand or supply situation where a percentage change in price leads to an equal percentage change in the quantity demanded or supplied.