The Present Value of a Future Sum Increases as Either

question 129

True/False

The present value of a future sum increases as either the discount rate or the number of periods per year increases, other things held constant.

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Definitions:

Respondent Behavior

Respondent behavior refers to involuntary responses to certain stimuli, typically conditioned reflexes acquired through classical conditioning.

Spontaneous Recovery

The revival of a conditioned response, previously vanished, subsequent to a lapse in the presentation of the conditioned stimulus.

Operant Chamber

An experimental apparatus used in the study of animal behavior, allowing researchers to measure responses to controlled stimuli.

Fixed-ratio Schedule

A fixed-ratio schedule is a type of operant conditioning reinforcement schedule where a response is reinforced only after a specified number of responses, leading to a high, steady rate of responding.