Which Price Control Policy Is the Most Likely to Induce

question 38

Multiple Choice

Which price control policy is the most likely to induce the creation of a black market?

• A) Price floor above the equilibrium price
• B) Price floor below the equilibrium price
• C) Price ceiling above the equilibrium price
• D) Price ceiling below the equilibrium price

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Definitions:

Intermittent Reinforcement

A conditioning schedule where a response is only sometimes rewarded, leading to more resilient behavior compared to continuous reinforcement.

Continuous Reinforcement

A reinforcement schedule in which a reward follows every correct response, aiding in the rapid learning of a behavior.

Secondary Reinforcement

A concept in conditioning that involves stimuli which, though not naturally rewarding, become reinforcing through their association with primary reinforcers.

Primary Reinforcement

A term in behavioral psychology referring to a stimulus that satisfies a biological need, leading to an increase in the likelihood of a specific response.