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A decrease in the price level decreases net wealth and increases consumption spending.
Abstract Ideals
Concepts or principles that exist in thought or as an idea but do not have a physical or concrete existence.
Social Conventions
Established norms and agreed upon standards of behavior in a society.
Preexisting Rules
Regulations or guidelines that were established before a particular event or situation.
Elaborate Rules
Detailed and sometimes complex guidelines and principles designed to govern behavior or procedural processes.
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Q206: Which of the following types of unemployment