Norms Are Abstract Ideas About What a Group Believes to Be

question 76

True/False

Norms are abstract ideas about what a group believes to be good, right, and desirable.

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Definitions:

Government Purchases

Spending for goods and services by all levels of government; government outlays minus transfer payments.

Net Exports

The value of a country’s exports minus the value of its imports.

Transfer Payments

Payments made by the government to individuals or organizations without the receiver providing any goods or services in exchange.

GDP Calculation

The process of determining the Gross Domestic Product of a country, which can include adding up all income earned in the economy or all expenditures made.