In the Short-Run

question 144

Multiple Choice

In the short-run

• A) the price level does not change.
• B) the aggregate supply curve is upward sloping.
• C) the money wage rate can change.
• D) real GDP is always equal to potential GDP.

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Definitions:

Agents of Socialization

Institutions or individuals that play a significant role in integrating individuals into the norms, values, and mores of a society.

Gender Differences

Variations in the roles, behaviors, and attributes that societies ascribe to individuals based on their perceived gender.

Internalize

The process of adopting the beliefs, attitudes, standards, or values of others as one's own, often influencing personal behavior and self-conception.

Role Expectations

The anticipated behaviors and actions associated with a particular social status or position within a group or society.