You Are Watching a Pigeon Pecking a Key for Food

question 41

Multiple Choice

You are watching a pigeon pecking a key for food reinforcement.The pigeon pecks slowly right after food has been delivered, but gradually increases the rate of pecking as more time elapses.Based on what is known about the pattern of responding produced by various schedules of reinforcement, you should conclude that the reinforcement schedule that is in place for this pigeon is a:

• A)fixed-ratio schedule
• B)fixed-interval schedule
• C)variable-ratio schedule
• D)variable-interval schedule

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Definitions:

Callable Bonds

Bonds that can be redeemed by the issuer before their maturity date at a specified price.

Call Option

A call option is a financial contract that gives the buyer the right, but not the obligation, to buy an asset at a specified price within a specific time period.

Convertible Bond

A type of bond that can be converted into a predetermined number of the issuing company's shares, typically at the discretion of the bondholder.

Convertible Bonds

Financial instruments that can be converted into a specified number of common stock shares at the discretion of the bondholder, usually at certain times during their life.