For Deontic Rules, People Seek Out ______________; for Indicative Rules

question 32

Multiple Choice

For deontic rules, people seek out ______________; for indicative rules, people seek out ______________.

• A) dominance hierarchies; production hierarchies
• B) indicators of status; strategic rule violators
• C) rule violations; instances that conform to the rule
• D) instances that conform to the rule; rule violations

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Definitions:

Economic Thought

A branch of economics that studies the evolution of economic ideas and theories over time.

Keynesians

An economic theory that advocates for active government intervention in the marketplace and monetary policy to manage demand and smooth out cycles of boom and bust.

Monetarists

Economists who believe that variations in the money supply are the main source of economic fluctuations.

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in GDP, real income, employment, industrial production, and wholesale-retail sales.