Price Tags Attached to Goods for Purchase at a Store

question 48

Multiple Choice

Price tags attached to goods for purchase at a store would be an example of money's role as a

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

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Definitions:

Fixed Interval

A schedule in operant conditioning where the first response is rewarded only after a specified amount of time has elapsed.

Variable Ratio

A schedule of reinforcement where a response is reinforced after an unpredictable number of responses, making it highly effective in maintaining behavior.

Fixed-ratio Schedule

A type of reinforcement schedule in operant conditioning where a response is reinforced only after a specified number of responses, leading to high and steady response rates.

Reinforcement

In psychology, a process in which a behavior is made more likely to occur in the future by its consequences.