A Country's Emphasis on Its Own Interests Before Everything Else

question 310

Multiple Choice

A country's emphasis on its own interests before everything else is known as

• A)socialism.
• B)democracy.
• C)nationalism.
• D)capitalism.
• E)entrepreneurship.

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Definitions:

Short-run Equilibrium

A state in which market supply and demand balance each other, and, as a result, prices become stable temporarily.

Global Pollution

Environmental damage that crosses international borders, affecting air, water, and land on a worldwide scale.

Aggregate Supply

The total supply of goods and services that firms in an economy are willing to sell at a given overall price level and in a given time period.

Aggregate Demand

The combined appetite for every good and service across an economy, pegged at a general price level during an established time period.