The Statement, "My IPhone Is Worth $300" Represents Money's Function

question 185

Multiple Choice

The statement, "My iPhone is worth $300" represents money's function as

• A)a medium of exchange.
• B)a unit of account.
• C)a store of value.
• D)a standard of deferred payment.
• E)a promoter of specialization.

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Definitions:

Variable-Interval

A schedule of reinforcement where rewards are given after unpredictable time intervals, in the context of behavior conditioning.

Fixed-Ratio

A schedule of reinforcement where a response is rewarded only after a specified number of responses, encouraging a high, stable rate of responding.

Variable-Ratio

A reinforcement schedule in which a response is reinforced after an unpredictable number of responses, leading to high and steady response rates.

Latent Learning

Learning that occurs without reinforcement but is not demonstrated until there is an incentive to perform.