The Efficient Allocation of Resources Requires

question 99

Multiple Choice

The efficient allocation of resources requires:

• A) that prices reflect the relative value of goods and services.
• B) that inflation not exceed three percent a year.
• C) deflation.
• D) prices to remain constant.

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Definitions:

Soft-Drink Vending Machine

A machine that dispenses cold beverages, such as sodas and juices, usually upon insertion of a coin or token.

Schedule

A plan that gives expected times for different things to happen.

Fixed Interval

In the context of reinforcement, it refers to a schedule where rewards are delivered at consistent time intervals after a desired behavior is performed.

Hour

A unit of time equivalent to 60 minutes or 1/24th of a day.