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The monetarist emphasis the inherent stability of the country in the long-run. They also further acknowledge that monetary and fiscal policy could have an impact on the short-run. In the long run, no large-scale government involvement is necessary since the economy is self-stabilising. Explain this statement which is based on six (6) classical roots and indicate which of them apply to the monetarist approach.
5. Three price indices were considered in this chapter: the GDP deflator, the CPI, and the PPL Explain the differences among these different measures of the price level.
4. Define the terms personal income and personal disposable income. Conceptually, how do these income measures differ from national income? Of what use are these measures?
Functionalism is one of the major theoretical approaches in sociology of education.briefly provide an explanation of the two levels of foci of functionalism
3. Explain some of the major limitations of the GDP concept.
If the price is set at R10, the market will
a. experience a surplus (excess supply) of 50
b. experience a surplus (excess supply) of 40
c. experience a shortage (excess demand) of 40
d. experience a shortage (excess demand) of 10
e. still be in equilibrium
2. What are the two types of intermediary goods that are counted in the GDP calculation? Explain why these two goods are integrated in the GDP calculation.
Briefly state what sociology of education as discipline entails
1. Define the term gross domestic product. Explain which transactions in the economy are included in GDP.
Discuss critical realism as it relates to education
#339914 on Dec 2023