Examlex
Which of the following is NOT one of the three principle types of social stratification?
Expansionary Gap
A situation where the actual output in an economy is greater than the potential output due to high demand.
Nominal Wages
The amount of money an employee is paid before adjustments for inflation, reflecting the current value of money.
Real Wages
The purchasing power of wages, adjusted for inflation, showing how many goods and services can be bought with a unit of labor.
Phillips Curve
An economic theory suggesting an inverse relationship between the rate of inflation and the rate of unemployment within an economy.
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