Mainstream Economists Say That Recessions Are Unlikely to Occur Today

question 140

True/False

Mainstream economists say that recessions are unlikely to occur today because prices and wages are highly flexible downward.

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Definitions:

Instinctive Drift

The phenomenon whereby an animal's conditioned responses revert to instinctual behaviors, interfering with learned behaviors.

Stimulus Discrimination

The ability to distinguish between different stimuli, responding only to specific stimuli while ignoring others.

Higher-Order Conditioning

A conditioning process in which a stimulus that previously was neutral is paired with a conditioned stimulus to produce the same conditioned response, even in the absence of the original unconditioned stimulus.

Spontaneous Recovery

The return of a conditioned response that had previously been eliminated, following a period where the conditioned stimulus was not presented.