When People Want More Goods and Services Than Are Available,the

question 74

Multiple Choice

When people want more goods and services than are available,the economy undergoes inflation.Which economic principle does this statement BEST represent?

• A)There are gains from trade.
• B)When markets don't achieve efficiency,government intervention can improve society's welfare.
• C)Overall spending sometimes gets out of line with the economy's productive capacity.
• D)Government policies can change spending.

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Definitions:

Societal Norms

Societal norms are the expected patterns of behavior and beliefs established by a society or social group, which guide individuals' actions and interactions.

Nonconforming Ways

Behaviors or practices that do not adhere to societal norms or expectations.

Third Force

Refers to the humanistic psychology approach, emphasizing personal growth and self-actualization as key components of mental health.

Behaviorism Approaches

A theory of learning based on the idea that all behaviors are acquired through conditioning, without emphasizing thoughts or feelings.