People in Societies That Are High in ________ Tend to Look

question 74

Multiple Choice

People in societies that are high in ________ tend to look after their own interests and those of their immediate family.

• A)collectivism
• B)achievement
• C)uncertainty avoidance
• D)individualism

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Definitions:

High Inflation

Is a term describing a situation where prices for goods and services rise excessively, reducing purchasing power and potentially destabilizing the economy.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, usually identified by a fall in GDP in two successive quarters.

Supply-Side

A macroeconomic theory arguing that economic growth is most effectively created by lowering taxes and decreasing regulation.

Economic Program

A set of coordinated policies and plans undertaken by a government or organization to achieve specific economic objectives.