Gen Enjoys Owning a Micro-Refrigerator, Which Is Small Enough to Fit

question 30

Multiple Choice

Gen enjoys owning a micro-refrigerator, which is small enough to fit almost anywhere. Gen believes that the efficient use of space is one of the characteristics that any good product should have. With respect to the functional areas of a cultural system, Gen is focusing on ________ as a variable in selecting products.

• A) ideology
• B) ecology
• C) social structure
• D) socio-psychology

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Definitions:

Spending Multiplier

the ratio of the change in total national income to the initial change in spending that brought it about, illustrating how initial spending leads to increased total spending in an economy.

Aggregate Spending

Aggregate spending is the total amount of spending in an economy, including consumption, investment, government expenditures, and net exports during a specific period.

Autonomous Saving

The portion of savings of an economy that is independent of income levels, often related to baseline savings by consumers and companies.

Aggregate Expenditure

Represents the total spending on goods and services in an economy, including consumption, investment, government purchases, and net exports during a specific period.