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If the price level is stable and if aggregate spending increases, a significant change in output occurs, showing the full impact of the spending multiplier.
Robert Merton
An American sociologist known for his theories of social structure, anomie, and for developing the concept of self-fulfilling prophecy.
Middle-range Theories
Theories that operate between the minor but necessary working hypotheses that evolve in abundance during day-to-day research and the all-inclusive systematic efforts to develop a unified theory that will explain all the observed phenomena.
Marxian Theories
A set of socio-economic ideas that analyze the effects of capitalism on labor, productivity, and economic development.
Politically Left
Politically Left refers to ideologies and movements that advocate for social equality, environmental protection, and redistribution of wealth, often opposing conservative or capitalist policies.
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