The formal or informal societal rules that specify or prohibit certain behaviors in specific situations are called ______.

Business

1 answer:

babymother [125]3 years ago

6 0

Answer:

social norms

Explanation:

Social norms can be seen as mutual depictions of appropriate social behavior as well as internal opinions of specific group behavior. Norms can be seen as cultural ideas (including principles, traditions, and rituals) that serve a basic understanding of what others practice and believe that they ought to be doing.

Social norms are, if seen as a societal viewpoint, informal interpretations which regulate the actions of people in a society. In response to religious or community expectations, behavioral economics acknowledges smaller group structures (such as a team or perhaps a department) can also accept norms independently.

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An economy is operating with output $400 billion above its natural level, and fiscal policymakers want to close this expansionar

Vlad [161]

Answer:

$\Delta G= 400 billion \frac{1}{5}= 80 billions$

To close the expansionary gap, the government would need to spending by 80 billion

Explanation:

Assuming this question: "To close the expansionary gap, the government would need to spending by ? billion"

Previous concepts

The government expenditure multiplier "denoted by K, the impact of a change in income following a change in government spending".

The marginal propensity to consume denoted by MPC "is a metric that quantifies induced consumption, the concept that the increase in personal consumer spending occurs with an increase in disposable income"

Solution to the problem

Fo this problem we need to find the Government multiplier (K) with the following formula:

$K=\frac{1}{1-MPC}$