Both Karl Marx and Max Weber Identified_______________ as an Important

question 3

Multiple Choice

Both Karl Marx and Max Weber identified_______________ as an important determinant of social inequality and social change.

• A) religion
• B) class
• C) gender
• D) race

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Definitions:

Keynes

An economist who revolutionized economic thinking with theories on government spending's effects on economic cycles.

Depression

A prolonged and severe downturn in economic activity, characterized by significant unemployment, declining output, and deflation.

Interest Rate

The component of a loan levied as interest to the borrower, usually characterized as an annual percentage of the outstanding loan value.

Aggregate Demand

Total economic interest in goods and services, assessed at a uniform price level throughout a specific period.