The ________ of a Nation Includes the Belief, Values, Views

question 111

Multiple Choice

The ________ of a nation includes the belief, values, views, and mores that its inhabitants share.

• A)political atmosphere
• B)culture
• C)tariffs
• D)free trade area

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Definitions:

Economic Growth

An increase in a country's capacity to produce goods and services, reflected over time in a rise in the national income and standard of living.

Production Possibilities Curve

A graphical representation showing the maximum quantity of goods and services that can be produced within an economy given available resources and technology.

Unemployment Rate

The segment of individuals in the labor force who are not in employment but are looking for jobs actively.

Opportunity Cost

The value of the best alternative forgone when a decision is made to pursue a particular action or resource allocation.