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Imagine a child sitting in a high chair at McDonald's. The child is eating french fries and becomes frustrated because she has eaten all of them. Wishing to get more fries from her parents, she begins yelling. The parents are embarrassed at their child's behavior. They decide to give her more french fries so she will stop yelling so loud in the middle of a restaurant. Discuss the two elements of operant conditioning that are present in this scenario.
Economic Theory
A set of principles and methodologies that explain how economies function, covering topics from microeconomics to macroeconomics.
Economic Systems
The organized way a society allocates its resources and distributes goods and services among its population.
Recession
A short-term economic slump characterized by a reduction in business and industrial activities, usually signified by a GDP decrease over two back-to-back quarters.
Real GDP
Gross Domestic Product adjusted for inflation, providing a more accurate representation of an economy's size and how it's growing over time.
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