Thomas,who Has Never Been to a Formal Dinner,is Attending One

question 8

Multiple Choice

Thomas,who has never been to a formal dinner,is attending one at his friend's house.Throughout the evening,Thomas observes his friend's behaviour in order to fit in and act appropriately.Thomas is learning the social ______ of a formal dinner.

• A)norms
• B)hierarchies
• C)roles
• D)structures

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Definitions:

Aggregate Supply

The total supply of goods and services that firms in an economy plan on selling during a specific time period, at a given price level.

Capital Stock

The total amount of physical goods and financial assets that are used in the production of goods and services in an economy.

Aggregate Demand

The summed demand for goods and services across an economic milieu, set at a specific price level for a given time interval.

Aggregate Supply

Aggregate supply is the total supply of goods and services that firms in an economy plan on selling during a specific time period.