If the Fed Makes an Open Market Purchase of $1

question 146

Multiple Choice

If the Fed makes an open market purchase of $1 million of government securities,the monetary base

• A)is decreased by $1 million.
• B)is unchanged in size,though its composition changes.
• C)is increased by $1 million.
• D)will decrease by a multiple of $1 million over time.
• E)will increase by a multiple of $1 million over time.

Understand the role of reinforcement in the law of effect and behavior repetition.

Understand the principles of operant learning, including reinforcement and punishment.

Distinguish between different schedules of partial reinforcement and their effects on behavior.

Apply the concepts of learning theory to critique and suggest improvements for real-world systems such as the prison system.

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Definitions:

Response

A set of values related to rapid, flexible, and reliable performance.

Differentiation

The process of distinguishing a product or service from competitors to make it more attractive to a particular target market.

Backward Integration

A business strategy where a company expands its role to fulfill tasks formerly completed by businesses up the supply chain, often including the acquisition of or merger with suppliers.

Keiretsus

A Japanese term for a group of affiliated companies that form a tight-knit alliance to work toward mutual business goals.