The Difference Between a Political Value and a Political Attitude

question 71

Multiple Choice

The difference between a political value and a political attitude is that

• A) values are conservative while attitudes are liberal.
• B) values are liberal while attitudes are conservative.
• C) values are held for a short term while attitudes are held for a long term.
• D) values are basic principles while attitudes are specific preferences.
• E) values are specific preferences while attitudes are basic principles.

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Definitions:

Long-Run Cost Curve

A graphical representation showing the minimum cost at which any given level of output can be produced in the long run, where all inputs are variable.

Industry Supply Curve

A graphical representation showing the quantities of a product that firms across an industry are willing to supply at different price levels.

Lump Sum Tax

A tax that is a fixed amount, regardless of the taxpayer’s income level, assets, or usage of services.

Long-Run Cost

The total cost of production when all factors of production can be varied, typically associated with the planning of long-term business strategies.