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Your classmate argues that deviance is not a thing to be explained but rather is an outcome of a social process informed by power and involves negotiation and contestation.You classmate is most likely a/an:
Mortgage-backed Security
A type of asset-backed security that is secured by a collection of mortgages, allowing investors to gain exposure to the home loans market without directly lending to borrowers.
Federal Reserve
The central banking system of the United States, responsible for implementing the country’s monetary policy and regulating its financial institutions.
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable changing while holding others fixed.
Comparative Advantage
In economics, comparative advantage refers to the ability of a country or individual to produce a particular good or service at a lower opportunity cost than its competitors.
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