The figure given below shows the macroeconomic equilibrium of a country.
Figure 10.7
-Given a potential GDP level of $3,000, the recessionary gap in Figure 10.7 equals _____.
Definitions:
Social Stability
pertains to the state of society where social structures, practices, and institutions maintain equilibrium and resist sudden change, contributing to the orderly functioning of a community or society.
Social Conflict
It is a theory that sees society as an arena of inequality that generates conflict and social change.
Folkways
The general standards of behavior adhered to by a group.
Mores
Strict norms that control moral and ethical behavior.
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