For Punishment to Work, the Punishment Must Be Strong Enough

question 38

True/False

For punishment to work, the punishment must be strong enough to stop the undesired behavior, and must be administered objectively, impersonally, consistently and contingently, and quickly.

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Definitions:

Real Value

Reflects the purchasing power of an amount of money, considering inflation, and contrasts with nominal value, which does not take inflation into account.

Money Holdings

The quantity of money an individual or entity holds as a store of value and medium of exchange.

Classical Dichotomy

The theoretical separation of nominal variables (such as money supply and prices) from real variables (like output and employment) in the economy, suggesting that nominal variables do not affect real output in the long run.

Nominal Variables

Variables measured in monetary units that have not been adjusted for inflation, reflecting current prices.