If Expectations Are Formed Rationally

question 20

Multiple Choice

If expectations are formed rationally:

• A) then activist monetary policy may yield no gains whatsoever.
• B) then monetary policy has real effects in the long run.
• C) then inflation will only hurt lenders and not borrowers.
• D) then inflation will only hurt borrowers and not lenders.
• E) then individuals expect inflation equal to their most recent experience.

Describe the key components of safety culture within a healthcare organization.

Apply the seven rights of drug administration to ensure the safe delivery of medications.

Understand the concept and implications of sentinel events in healthcare settings.

Utilize technology and strategies endorsed by safety organizations to reduce medication errors.

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Definitions:

Instrumental Conditioning

The process through which an individual learns a behavior in response to a stimulus to obtain a reward or avoid a punishment.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.

Cognitive Dissonance

A state of psychological tension induced by dissonant relationships between cognitive elements.

Anticipated Reactions

Expectations about how others might respond to one's actions, which can influence decision-making processes.