Consider the Basic AD/AS Model

question 113

Multiple Choice

Consider the basic AD/AS model.If firms' unit costs remained constant as firms increased their output levels,this would lead to a

• A)vertical AD curve.
• B)horizontal AD curve.
• C)vertical AS curve.
• D)horizontal AS curve.
• E)horizontal AE curve.

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Definitions:

Self-efficacy

The belief in one's capabilities to organize and execute the courses of action required to manage prospective situations.

Cognitive Processes

The mental actions or operations involved in acquiring knowledge and understanding through thought, experience, and the senses.

Variable Ratio Schedule

A type of operant conditioning reinforcement schedule in which a response is reinforced after an unpredictable number of responses.

Reinforcement

In behavioral psychology, a consequence applied to an organism's environment that causes an increase in the likelihood of a repeat of the preceding behavior.