If the Price of a Natural Resource Is Expected to Rise

question 17

Multiple Choice

If the price of a natural resource is expected to rise at a rate that exceeds the interest rate,demand ________,supply ________,and the price ________.

• A)decreases;increases;falls
• B)increases;decreases;rises
• C)increases;increases;rises, falls, or remains unchanged
• D)decreases;decreases;rises, falls, or remains unchanged
• E)increases;does not change;rises

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Definitions:

Observational Learning

A learning process where an individual acquires new behaviors by watching and imitating others.

Habituation

the process by which an organism decreases or ceases its response to a stimulus after repeated or prolonged exposure.

Classical Conditioning

The teaching technique where, through the continuous association of two stimuli, a reaction that is initially caused by the second stimuli is later caused by the first stimuli on its own.

Skinner

Refers to B.F. Skinner, an American psychologist known for his work in behaviorism and the development of the theory of operant conditioning.