In a Simple Economy Without Government or the Foreign Sector

question 84

True/False

In a simple economy without government or the foreign sector, saving must equal investment because output is divided into consumption and investment, and income is either consumed or saved.

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Definitions:

Token Economy

A behavior modification system that utilizes tokens as rewards for desired behaviors, which can be exchanged for privileges or treats.

Skinner Bucks

A token economy system developed by B.F. Skinner, where individuals receive tokens for exhibiting desirable behavior, which can later be exchanged for rewards.

Contingency Contract

A behavioral strategy in which two parties agree on a specific change that will occur when certain conditions are met.

Group Extinction

The phenomenon when a species, cultural group, or language ceases to exist as a distinct entity.