If the Current Price Level Was Such That the Aggregate

question 136

Multiple Choice

If the current price level was such that the aggregate quantity demanded exceeded the aggregate quantity supplied, we would expect:

• A)inflation to occur.
• B)the aggregate demand curve to shift rightward.
• C)the aggregate demand curve to shift leftward.
• D)the ratchet effect to be applicable.

---

Definitions:

Interval Schedule

A type of reinforcement schedule in operant conditioning that delivers a reward after a variable or fixed interval of time has passed.

Operant Response Rates

The rate at which an organism performs a behavior that is reinforced by a consequence in a given period, used in operant conditioning research.

Personal Freedom

The liberty of individuals to pursue their own interests and choices without undue interference or restriction from societal norms or government.

Pleasure-Seeking Tendencies

The inclination towards behaviors or activities that provide immediate gratification or enjoyment.