One Determinant of the Long-Run Average Unemployment Rate Is the

question 125

Multiple Choice

One determinant of the long-run average unemployment rate is the

• A)market power of unions, while the inflation rate depends primarily upon government spending.
• B)minimum wage, while the inflation rate depends primarily upon the money supply growth rate.
• C)rate of growth of the money supply, while the inflation rate depends primarily upon the market power of unions.
• D)existence of efficiency wages, while the inflation rate depends primarily upon the extent to which firms are competitive.

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Definitions:

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, encouraging the subject to associate certain behaviors with specific consequences.

B.F. Skinner

An influential psychologist known for his work in behaviorism and for developing the theory of operant conditioning, which involves learning through rewards and punishments.

Operant Conditioning

A behavioral modification process influenced by rewarding or disciplining actions.

Punisher

A figure or factor that decreases the likelihood of a behavior by applying a negative consequence or removing a positive stimulus.