Assume an Economy Which Is Producing Only One Product

question 5

Multiple Choice

Assume an economy which is producing only one product.Output and price data for a three-year period are as follows.

-Refer to the above data.If year 2 is chosen for the base year,in year 3 nominal GDP and real GDP,respectively,are:

• A) $180 and $30.
• B) $30 and $5.
• C) $180 and $120.
• D) $120 and $100.

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Definitions:

Schedule-induced Polydipsia

An excessive drinking behavior induced by a fixed time schedule of reinforcement, not directly related to thirst.

Superstitious Behavior

A “ritualistic” stereotyped pattern of behavior exhibited during the interval between reinforcements.

Pigeons

Birds often used in research studies to study behavior, learning, and conditioning, due to their ability to learn tasks and remember visual patterns.

Staddon And Simmelhag

Refers to researchers in the field of behavioral psychology, noteworthy for their work on operant conditioning and theoretical contributions, although specific details about their collaboration may vary.