A Pigeon Is Given a Choice Between Pecking an Upper

question 52

Multiple Choice

A pigeon is given a choice between pecking an upper key on a VI 2' schedule and pecking a lower key on a VI 4' schedule. According to the matching law of choice behavior, the pigeon should:

• A) always peck the lower key.
• B) always peck the upper key.
• C) peck the lower key twice as frequently as the upper key.
• D) peck the upper key twice as frequently as the lower key.

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Definitions:

Government Bond

A type of investment where an investor loans money to a government in exchange for periodic interest payments plus the return of the bond's face value at maturity.

Treasury Bill

A Treasury Bill (T-Bill) is a short-term U.S. government debt obligation backed by the Treasury Department with a maturity of one year or less.

Inflation Rate

The inflation rate measures how much the general level of prices for goods and services is rising, and, subsequently, how purchasing power is eroding over time.

Standard Deviation

A statistical measure of the dispersion or variability of a set of data points, often used to quantify the risk associated with a particular investment or portfolio.