An Increase in the Overall Level of Prices in an Economy

question 9

Multiple Choice

An increase in the overall level of prices in an economy is called

• A)growth.
• B)expansion.
• C)inflation.
• D)nominal GDP growth.

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Definitions:

Stimuli

Refers to physical or environmental factors that can provoke a response or reaction in a living organism.

Reinforced

Strengthened or supported, often in the context of materials or structures, but also applicable to behaviors in psychology.

Positive Reinforcement

The presentation of a stimulus following a given behavior in order to increase the frequency of that behavior.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment, a principle established by B.F. Skinner.