Examlex
Use the IS- LM model that incorporates dynamics and explain the effect on output, the interest rate, and investment when the central bank cuts the interest rate.
Prescriptive Norms
Social rules that dictate what behavior is expected or appropriate within a community or society.
Proscriptive Norms
Social rules that dictate what behaviors are forbidden or discouraged within a society or group.
Ethnomethodology
A sociological approach that studies the way people make sense of their everyday world, emphasizing the methods and practices individuals use to constitute their social realities.
Rational Choice Theory
A framework for understanding and modeling social and economic behavior based on the assumption that individuals act rationally, making decisions to maximize their personal benefit.
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