The Definition of Norms Is

question 24

Multiple Choice

The definition of norms is

• A) the sets of institutions within which we live our lives.
• B) the social organization of gender relations in the society.
• C) explicitly codified expectations, often written down with stated consequences for deviance.
• D) beliefs and practices that are widely followed and culturally approved.

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Definitions:

Sacrifice Ratio

The measure of the decline in annual output required to reduce inflation by one percentage point.

Unemployment Rate

The proportion of the workforce that is unemployed and actively looking for work.

Inflation

Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power over time.

Asset Prices

The monetary value assigned to financial and non-financial assets in the marketplace, including stocks, bonds, real estate, and commodities.