When a Long-Term Aggregate Supply Curve Is Drawn with Real

question 121

Multiple Choice

When a long-term aggregate supply curve is drawn with real GDP (Y) along the horizontal axis and the price level (P) along the vertical axis, this curve:

• A) slopes upward and to the right.
• B) slopes downward and to the right.
• C) is horizontal.
• D) is vertical.

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Definitions:

Counterconditioning

A behavior therapy technique where a positive response is conditioned to replace a negative or unwanted response to a stimulus.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, whereby an association is made between a behavior and a consequence for that behavior.

Respondent Conditioning

A learning process in which a biological response is paired with a previously neutral stimulus through conditioning, also known as classical conditioning or Pavlovian conditioning.

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus, famously illustrated by Pavlov's dogs experiment.