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How much is the output gap if short-run output is $20.0 trillion and potential output is $20.0 trillion?
AGIL Typology
A theoretical framework proposed by Talcott Parsons that classifies systems’ functions into four categories: Adaptation, Goal attainment, Integration, and Latency.
Talcott Parson
An American sociologist known for his development of a general theoretical system for the analysis of society called structural functionalism.
Conflict Theory
A sociological perspective that views social and economic inequalities as the result of competing interests between different social groups, leading to conflict.
Social Equilibrium
A state of balance within a society, where social forces and elements are aligned in a way that maintains social order and minimizes conflict.
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