Real Economic Variables Measure

question 13

Multiple Choice

Real economic variables measure

• A) Value in the prices of some certain base year.
• B) Value in the prices of the current year.
• C) Nominal values adjusted for the current interest rate.
• D) Nominal values adjusted for the current money supply.

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Definitions:

Modernization Theory

A view of globalization in which global development is a worldwide process affecting nearly all societies that have been touched by technological change.

Max Weber

A German sociologist, philosopher, and political economist known for his theory on the Protestant ethic and his ideas on bureaucracy.

World Systems Theory

A multidisciplinary, macro-scale approach to world history and social change that suggests there is a world economic system in which some countries benefit while others are exploited.

Dependency Theory

The global theory maintaining that industrialized nations hold less-industrialized nations in a dependent relationship that benefits the industrialized nations at the expense of the less-industrialized ones.