What Is a Society Called If Social Mobility Is Highly

question 126

Multiple Choice

What is a society called if social mobility is highly restricted by formal or informal rules like those of a caste system?

• A) capitalism
• B) a system of achieved status
• C) a closed system
• D) an open system

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Definitions:

Record High

A record high is the highest level or value reached by a financial indicator, stock price, or other market-related metric in its history.

Trade Deficits

A situation where a country's imports exceed its exports over a certain period, leading to more money leaving the economy than entering it.

National Income

National Income is the total value of all goods and services produced by a country's economy over a specific period, often used to gauge economic performance.

Real Interest Rates

The rate of interest an investor expects to receive after allowing for inflation, reflecting the true cost of capital.