ocial change must be analyzed in terms of________________?
Correct answer: B. statics and dynamics
- A. stability and efficiency
- B. statics and dynamics
- C. backward and forward progress
- D. if it is good for the people
Explanation
Social change is studied dynamically because it concerns processes over time, while statics examines conditions at a particular point. Stability and efficiency describe economic outcomes, not the standard analytical pair for change.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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