When the Stock Market Crashed in 2008, the So-Called Reverse

question 100

True/False

When the stock market crashed in 2008, the so-called reverse wealth effect caused consumer spending to decrease.

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Definitions:

Stimulus Generalization

The mechanism through which stimuli, which resemble but are not the same as the original conditioned stimulus, elicit a conditioned response.

Classically Conditioned

The process by which a neutral stimulus becomes associated with a meaningful stimulus and acquires the capacity to elicit similar responses.

Aversive Stimulus

Aversive Stimulus is an unpleasant or painful stimulus used to induce changes in behavior through aversion therapy.

Operant Response

A behavior that is modified by its consequences, through reinforcements or punishments, in operant conditioning.