Applying Mass-Society Theory, You Would Claim That the Biggest Problem

question 63

Multiple Choice

Applying mass-society theory, you would claim that the biggest problem facing individuals in modern society is:

• A) poverty.
• B) too much tradition.
• C) powerlessness.
• D) establishing a clear personal identity.

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Definitions:

Equilibrium Real National Output

The level of output where aggregate supply equals aggregate demand in an economy, adjusted for inflation.

Inventories

Goods that have been produced but remain unsold.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).

Keynes

refers to John Maynard Keynes, a British economist whose theories on the causes of prolonged unemployment and recommendations for government intervention in economies to stimulate demand and control inflation have had a significant influence on modern macroeconomics.