Which of the Following Statements About Public Opinion in America

question 66

Multiple Choice

Which of the following statements about public opinion in America is MOST accurate?

• A)Political knowledge is fairly high in America.
• B)Citizens with low levels of knowledge are generally better able to evaluate new information and determine its relevancy to their beliefs.
• C)Citizens with high levels of knowledge are generally better able to evaluate new information to determine its relevancy to their beliefs.
• D)Politically knowledgeable citizens are more likely to consider themselves independent and not have a liberal or conservative ideology.

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Definitions:

Marginal Revenue

The additional income earned from selling one more unit of a product or service.

Demand Inelastic

A situation where the demand for a product does not change significantly with a change in price.

Price Elasticity

A measure of how much the quantity demanded of a good or service changes in response to a change in its price.

Monopolist

A market participant who is the sole supplier of a particular good or service, possessing significant market power and able to influence price and market conditions.