Billy Is Offered Five M&Ms and Is Told That If

question 460

Multiple Choice

Billy is offered five M&Ms and is told that if he can wait and not eat these M&Ms for ten minutes, he can have 15 M&Ms. Unfortunately, after waiting for only a couple of minutes, the M&Ms start to look too delicious, so Billy goes ahead and eats them. Based on this example, psychologists would most likely say that Billy has yet to learn

• A)stimulus generalization
• B)delay of gratification
• C)stimulus discrimination
• D)effective modelling

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Definitions:

Factor Market

A market where factors of production (such as labor, capital, and land) are bought and sold, different from markets for goods and services.

Marginal Productivity Theory

An economic theory that explains the determination of wages in the factor market, based on the productivity of the marginal unit of labor or other factors of production.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value.

Compensation of Employees

Payments and benefits received by employees in exchange for their labor, including wages, salaries, and benefits such as health insurance.