Activists of the Policies Believe That

question 53

Multiple Choice

Activists of the policies believe that

• A)the self-correcting mechanism through wage and price adjustment is very slow.
• B)wages and prices are sticky.
• C)the government needs to pursue active policy to eliminate high unemployment when it develops.
• D)all of the above.

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Definitions:

Rise of Capitalism

The historical development and expansion of capitalism as an economic system characterized by private ownership of the means of production and the creation of goods and services for profit.

Production Technology

The methods, equipment, and techniques used in the manufacturing process to produce goods and services.

Sociological Theory

is a set of ideas that provides an explanation for human society, guiding research and thinking in sociology and other social sciences.

George Ritzer

An American sociologist best known for his concept of "McDonaldization," analyzing the effects of globalization and rationalization on society.