The Phillips Curve Indicates That When the Labor Market Is

question 51

Multiple Choice

The Phillips curve indicates that when the labor market is ________,production costs will ________ and aggregate supply decreases.

• A)easy;rise
• B)easy;fall
• C)tight;fall
• D)tight;rise

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Definitions:

Reinforce

To strengthen a behavior by providing a consequence that increases the likelihood of the behavior being repeated.

Lever

A simple machine consisting of a rigid bar that pivots on a fixed point, used to transfer force and change the direction of force.

Variable Interval

Variable interval refers to a reinforcement schedule in which rewards are given after unpredictable time intervals, used in behavioral conditioning.

Reinforcement

In psychology, a process by which a stimulus increases the probability of a response through either positive or negative reinforcement.