The Level of Aggregate Supply in the Long Run Is

question 184

Multiple Choice

The level of aggregate supply in the long run is not affected by

• A)changes in technology.
• B)changes in the capital stock.
• C)changes in the price level.
• D)changes in the number of workers.

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Definitions:

Law of Effect

A psychological principle suggesting that behaviors followed by favorable consequences become more likely, and behaviors followed by unfavorable consequences become less likely.

Skinner

B.F. Skinner was an influential American psychologist known for his research in behaviorism and for developing the theory of operant conditioning, focusing on the consequences of actions to modify behavior.

Operants

Behaviors that are controlled or modified by their consequences, such as rewards or punishments, in the context of operant conditioning.

Reinforcers

Stimuli that, when presented after a behavior, increase the likelihood of that behavior occurring again in the future.