Explanation

The “however” of the next-to-last sentence indicates that the author’s characterization of the relationship between classical music and popular culture during the Gilded Age contrasts with the current state of affairs. Since music was widely esteemed during the Gilded Age, it follows that it is viewed more negatively, or disregarded, during the current era. Of the choices for Blank (i), “ignore” is the only choice that conveys this sentiment; “promote” connotes the opposite, while “reinterpret” suggests a different sort of positive engagement with classical music that is otherwise unmentioned in the passage. The author characterizes the current disconnection between music and culture as understandable, and uses pejorative language (“degenerated,” “formulaic”) to describe current classical music. Of the three choices for Blank (ii), “sacrifice” best conveys this dismissive attitude; “appreciate” would convey that those who forego orchestral concerts are indeed missing something worthwhile, while “malign” overstates the presumed level of feeling and activity of one who simply does not attend concerts. Since the lack of a connection between culture and classical music must contrast with the relationship during the Gilded Age, the answer to Blank (iii) is “centrally embedded in.” Of the other two choices, “generally rejected by” would provide no contrast, while “antagonistic toward” suggests a relationship that would not explain why music was
so widely esteemed. Thus the correct answer is ignore (Choice C), sacrifice (Choice D), and centrally embedded in (Choice I).
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whoa. @carcass if you were to give one advice I can come up with "sacrifice", what would it be? From which part of the sentence did you conjecture that the answer would be sacrifice?

Actually, the entire passage could be split into two parts

That today’s students of American culture tend to (i) _________ classical music is understandable. In our own time, America’s musical high culture has degenerated into a formulaic entertainment divorced from the contemporary moment. Thus, to miss out on what our orchestras are up to is not to (ii) _________ much.

Which has a negative connotation: to the new generations do not care that much of classical music. So, what it represents might be dismissed (sacrifice)

In the late Gilded Age, however, music was widely esteemed as the “queen of the arts.” Classical music was in its American heyday, (iii) _________ the culture at large.

The second part has a positive connotation: look at queen of the arts.

Regards
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Dear, what does it means?
"America’s musical high culture has degenerated into a formulaic entertainment divorced from the contemporary moment"

Musical high culture, for instance, the Opera, once it represented the spirit of America. However, now it is just a poor or pale figure of once it was.

it no longer is the reflection or the ongoing history, of the moment, in the life of America.

In a nutshell, it is unrelated to the moment or reality. It now is something else.

Regards
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Not to sacrifice much, will it not covey the opposite. Of what is required?

Sorry, could you explain better sir ?
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In our own time, America’s musical high culture has degenerated into a formulaic entertainment divorced from the contemporary moment.

This means that the 1st blank would have negative answer choice. Thus Choice C makes sense.

Now, look at the last sentence.

In the late Gilded Age, however, music was widely esteemed as the “queen of the arts.” Classical music was in its American heyday

This means that some positive answer choice will make the answer for 3rd blank. Choice I makes sense.

Coming to the 2nd blank, let's read this.

Thus, to miss out on what our orchestras are up to is not to (ii) _________ much - meaning that if we miss out something, nothing will change. malign and appreciate are out of context. sacrifice wins.

Hence, CDI.