In Determining the Beginning of Recessions, the NBER Business Cycle

question 108

Multiple Choice

In determining the beginning of recessions, the NBER Business Cycle Dating Committee looks for evidence of decline in:

• A)specific sectors of the economy.
• B)the rate of inflation.
• C)the entire economy.
• D)the stock market.

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Definitions:

Partial-Reinforcement Extinction Effect

The greater persistence of behavior under partial reinforcement than under continuous reinforcement.

Continuous Reinforcement

A learning process in operant conditioning where a behavior is reinforced each time it occurs, leading to rapid learning.

Primary Reinforcement

A type of reinforcement that is inherently rewarding, such as food or water, which satisfies a biological need.

Law of Effect

A principle of learning that states behaviors followed by positive outcomes are more likely to be repeated, while those followed by negative outcomes are less likely to occur.