Both New Keynesian and New Classical Cycle Theories Claim That

question 12

Multiple Choice

Both new Keynesian and new classical cycle theories claim that

• A)animal spirits can trigger a business cycle.
• B)shifts in the SAS curve are the main impulse for a business cycle.
• C)unexpected changes in aggregate demand trigger a business cycle.
• D)expected changes in the quantity of money can trigger a business cycle.
• E)a change in the price of oil is the major cause of a business cycle.

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Definitions:

Extinction

A reinforcement contingency in which a behavior is followed by the absence of any consequence, thereby reducing the likelihood that the behavior will be repeated in the same or similar situations.

Negative Reinforcement

A type of conditioning where an undesirable outcome or event is removed following a behavior, increasing the likelihood of that behavior's occurrence in the future.

Social Cognitive Theory

A theoretical framework that emphasizes the importance of observational learning, social experiences, and environmental factors in the development of behaviors.

Observing

involves carefully watching or monitoring phenomena, behaviors, or activities to gather information, often as part of a research process or to learn.