If You Do Your Homework and Assignments for Your OB

question 112

Multiple Choice

If you do your homework and assignments for your OB class just to avoid being yelled at by your professor,you have learned this behaviour through the use of:

• A)Punishment
• B)extinction
• C)negative reinforcement
• D)heuristics
• E)positive reinforcement

Grasp the significance of demand and supply adjustments in response to externalities.

Evaluate the role of government interventions, such as emissions fees and standards, in correcting market failures due to externalities.

Understand the different methods of pollution abatement and their economic implications.

Calculate efficient level of output considering external costs.

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Definitions:

Exemption

Exemption is a deduction allowed by law to reduce the amount of income that would otherwise be taxed. It can also refer to specific types of income or transactions that are legally excluded from taxation.

Terminal Illness

A disease or condition that is deemed incurable or irreversible and is expected to lead to the death of the patient within a short period of time.

Adverse Selection

A situation in financial markets where sellers have information that buyers do not, leading to transactions in which the buyer is at a disadvantage.

Life Insurance

This is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries when the insured dies.