Use the Following to Answer Questions

question 246

Multiple Choice

Use the following to answer questions :
Figure: Circular-Flow Model
-(Figure: Circular-Flow Model) Look at the figure Circular-Flow Model. If the circular-flow model is in equilibrium (the sum of money flowing into each box is equal to the sum of the money flowing out of it) and there is a decrease in consumer spending, which of the following is likely to happen?

• A)an increase in the nominal GDP
• B)an increase in the real GDP
• C)an increase in the unemployment rate
• D)an increase in the inflation rate

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Definitions:

Micro-Level Social Processes

The small-scale interactions and social phenomena that occur among individuals or small groups.

Macro-Level

Pertains to a broad, large-scale perspective, often used in social sciences to discuss societal structures and processes.

Policy Debate

A form of debate competition where participants argue for or against proposed policies, focusing on the feasibility, benefits, and impacts.

Omi and Winant

Sociologists known for developing racial formation theory, which looks at how social, economic, and political forces determine the content and importance of racial categories.