The Dominant Values of U

question 19

Multiple Choice

The dominant values of U.S. culture share which of the following?

• A) a deep respect for the traditions of the past
• B) a belief in individuality
• C) a belief in equality of condition for all
• D) a strong emphasis on collective life

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Definitions:

U.S. GDP

U.S. Gross Domestic Product reflects the total monetary or market value of all the finished goods and services produced within the United States' borders in a specific time period.

Income Inelastic

A characteristic of a good whose demand does not significantly change as the income of consumers changes.

Price Inelastic

Describes a situation in which the demand for a good or service is relatively unresponsive to changes in price.

Price Inelastic

Describes a situation where the quantity demanded of a good does not significantly change when its price changes.