Refer to the Graph Shown

question 124

Multiple Choice

Refer to the graph shown. Suppose an economy begins at point B but then adopts a contractionary monetary policy. In the short run, this policy would most likely:

• A)reduce inflation to 3 percent and raise unemployment to 7.5 percent.
• B)reduce inflation to 3 percent and reduce unemployment to 4 percent.
• C)raise inflation to 9 percent and raise unemployment to 7.5 percent.
• D)raise inflation to 9 percent and reduce unemployment to 4 percent.

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Definitions:

Robert Merton

An American sociologist known for his theories on social structure, social functions, and the sociology of science.

Functionalist Approach

An approach in sociology that emphasizes the way in which the parts of a society are structured to maintain its stability and functionality.

Middle-Range

Theories or concepts that are neither too abstract nor too specific, aiming to connect empirical data and large-scale theories effectively.

George Ritzer

A sociologist known for his work on globalization, consumerism, and the McDonaldization of society.