Theories Which Explain How Class Structures Develop in Modern Societies

question 10

Multiple Choice

Theories which explain how class structures develop in modern societies might best be categorized as _______ theories.

• A) general
• B) reflexive
• C) grand
• D) subjectivist

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Definitions:

Sacrifice Ratio

The number of percentage points of annual output lost in the process of reducing inflation by 1 percentage point.

Inflation

An increase in the overall level of prices in the economy

Output

The amount of goods or services produced by a firm, industry, or economy over a given period.

Sacrifice Ratio

A measure of the economic cost of reducing inflation, calculated as the percentage of annual output lost per one percentage point reduction in inflation.