For a Small Open Economy,an Increase in the World Real

question 31

Multiple Choice

For a small open economy,an increase in the world real interest rate would necessarily

• A)increase net foreign lending.
• B)decrease net exports.
• C)decrease the current account balance.
• D)worsen the balance of payments.

Comprehend the functionalist perspective on structural inequality as presented by Kingsley Davis and Wilbert Moore.

Grasp various forms of structural functionalism and identify the dominant approach.

Understand the critique of functionalist explanations of inequality, including considerations of power, prestige, and motivation.

Compare and contrast the views of Talcott Parsons and Robert K. Merton on structural functionalism.

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Definitions:

Convergent Goals

Goals shared by different parties or individuals that align and lead towards a common objective, fostering cooperation.

Conflicting Goals

Objectives or desired outcomes from different parties or within an individual that are at odds with each other, creating a situation where not all can be achieved simultaneously.

Interpersonal Relationships

The connections and interactions between two or more people, which can range from casual acquaintances to close familial bonds.

Competitive Situations

Scenarios where individuals or groups are in opposition, aiming to achieve goals that are mutually exclusive or incompatible.