Table 15-3 -Refer to Table 15-3.Consider the Hypothetical Information in the Table

question 40

Multiple Choice

Table 15-3

-Refer to Table 15-3.Consider the hypothetical information in the table above for potential real GDP,real GDP and the price level in 2014 and in 2015 if the Federal Reserve does not use monetary policy.If the Fed wants to keep real GDP at its potential level in 2015,it should

• A)buy Treasury securities.
• B)sell Treasury securities.
• C)decrease the required reserve ratio.
• D)decrease income taxes.

Recognize the role of environmental factors in shaping behavior according to Skinner.

Understand the principles of operant conditioning, including shaping and reinforcement schedules.

Comprehend the process and significance of classical conditioning in behavior.

Identify the differences between positive and negative reinforcement and their impacts on behavior.

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Definitions:

Petty Cash Fund

A small amount of cash kept on hand for minor and incidental expenses.