Which of the Following Statements Concerning Political Values in the United

question 35

Multiple Choice

Which of the following statements concerning political values in the United States is true?

• A) American values often conflict with each other in practice.
• B) Because of their diversity, Americans do not share a similar set of core political values.
• C) The origins of American political values are found in the 1960s.
• D) American politics relies on its value neutrality.
• E) A belief in economic equality is the oldest and most strongly held American value.

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Definitions:

Marginal Cost

The cost of producing one additional unit of a good or service.

Marginal Revenue

The additional income that an organization receives from selling one more unit of a product or service.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing the financial gain exceeding the opportunity costs of resources.

MR = MC

An economic principle stating that the maximum profit occurs where marginal revenue equals marginal cost, guiding firms on the optimal level of output.