Instead of Focusing on How Power,norms,and Values Shape Markets,neoclassical Economists

question 110

Multiple Choice

Instead of focusing on how power,norms,and values shape markets,neoclassical economists argue that:

• A)free markets cannot operate without government regulation
• B)free markets maximize economic growth
• C)a minimum wage is important to stabilize any economy
• D)high profits and high wages can occur together
• E)high profits and high wages never occur together

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Definitions:

Conflict Theorist

A sociologist or academic who explores how societal conflicts, often stemming from inequality and power disparities, contribute to social change and the structure of society.

Agricultural Product

Goods produced through farming and agriculture, including crops, livestock, and other raw materials derived from plants and animals.

Differential Association Theory

Edwin Sutherland’s hypothesis that we learn to be deviant through our associations with deviant peers.

Labeling Theory

A concept in sociology and criminology that suggests labels applied to individuals influence both how others see them and how they see themselves, potentially leading to a self-fulfilling prophecy.