Although Functionalism Is Less Popular Today, What Accounts for the Strong

question 132

Multiple Choice

Although functionalism is less popular today, what accounts for the strong appeal it had for early sociologists?

• A) Functionalism helps to explain rapid change.
• B) Functionalism helps to explain class conflict and inequality.
• C) Functionalism is the least conservative of all sociological theories.
• D) Functionalism helps describe the way we present ourselves to others on a face-to-face basis.
• E) Functionalism helps to bring order to a rapidly changing and messy social world.

Describe the benefits of international trade.

Recognize reasons for government intervention in markets.

Explain the short-run effects of changes in the money supply on inflation and unemployment.

Understand the definitions and implications of economic terms such as inflation and economic fluctuations.

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Definitions:

Perfectly Competitive Firm

A company that operates in a market where there are many buyers and sellers, none of which can influence the market price.

Long-Run Equilibrium

A state where all factors of production in an economy are fully adjusted to market conditions, leading to stable prices and full employment of resources.

Profit Maximization

The method a company uses to decide the price and production amount that yields the highest profit.

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing the excess earnings over the next best alternative.