Levi Has Just Become a Great-Grandfather

question 34

Multiple Choice

Levi has just become a great-grandfather. If he is like most other great-grandparents, Levi:

• A) is looking forward to being a surrogate parent.
• B) views being a great-grandparent as a burden.
• C) is pleased with the diversion great-grandchildren provide.
• D) views himself with the sense that he has lived too long.

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Definitions:

Capitalism

An economic system characterized by private or corporate ownership of capital goods, investments dictated by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Marginal Cost

The cost of producing one additional unit of a good or service, which can change depending on the level of production.

Costume Party

A social gathering where participants wear costumes and often engage in themed activities, not a term typically associated with economics.

Black Panther

A member of the Black Panther Party, a revolutionary black nationalist and socialist organization active in the United States from 1966 until 1982.