Elites' Ability to Change Public Opinion Is a Product of

question 41

Multiple Choice

Elites' ability to change public opinion is a product of

• A) the ultimate truth of the message.
• B) the intensity and consistency of the message.
• C) the evidence that the general public does not care.
• D) the general public ability to  embrace change.
• E) the superior intellect of elites.

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Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, such as labor or capital.

Marginal Physical Product

The additional output that is produced by employing one more unit of an input, holding other inputs constant.

Substitution Effect

The economic understanding that as prices rise, or income decreases, consumers will replace more expensive items with less costly alternatives.

Output Effect

The impact on total production and economic output resulting from changes in price levels, influencing the quantity supplied or demanded.