One of the Propositions in Galbraith's Theory of Consumer Demands

question 10

Multiple Choice

One of the propositions in Galbraith's theory of consumer demands is the notion that:

• A) tighter credit restrictions will reduce the demand for products and create inflation.
• B) the urgency of wants does not diminish appreciably as more of them are satisfied.
• C) thrift and saving are gradually replacing buying and spending.
• D) advertisers have a moral responsibility to the American public.

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Definitions:

Fourteenth Amendment

Added to the U.S. Constitution in 1868, guaranteeing equal protection under the laws to all citizens and crucial in extending civil rights and liberties.

Birthright Citizenship

The legal principle which grants citizenship to individuals born within a country's territories, regardless of their parents' nationality.

Equal Protection

A principle under the Fourteenth Amendment of the U.S. Constitution which provides that no state shall deny to any person within its jurisdiction the equal protection of the laws.

Civil War

A war between citizens of the same country, often referred to specifically as the American Civil War which took place between 1861 and 1865 between the Northern Union and the Southern Confederacy.