Last Yearʹs Price Level Was 120 and Since Then There

question 93

Multiple Choice

Last yearʹs price level was 120 and since then there has been a 5 percent inflation. This yearʹs price level is

• A) 130.
• B) 125.
• C) 126.
• D) none of the above

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Definitions:

Conditioned Stimulus

A previously neutral stimulus that, after being repeatedly associated with an unconditioned stimulus, elicits a conditioned response.

Unconditioned Stimulus

In traditional conditioning, a stimulus that instinctively and automatically elicits a response without previous learning.

Unconditioned Response

A natural, automatic reaction to a stimulus that occurs without any prior learning or conditioning.

Unconditioned Stimulus

Within classical conditioning, a stimulus that inherently and spontaneously provokes a response with no prior learning required.