The view that inequality is based on the corrupting and divisive actions of institutions is part of the ideology of_______________?
Correct answer: D. classical liberalism
- A. social Darwinism
- B. classical conservatism
- C. structural functionalism
- D. classical liberalism
Explanation
Classical liberalism generally treats inequality as being sustained or worsened by coercive and corrupt institutions, while favouring individual freedom and competition. Social Darwinism and structural functionalism provide different explanations of inequality.
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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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