Use the Following to Answer Questions

question 117

Multiple Choice

Use the following to answer questions :
Scenario: Taylor Rule
Suppose the Federal Reserve is following the Taylor rule, which takes both inflation and business cycles into account when setting the federal funds rate. Also suppose that the inflation rate in the economy is 3% and the unemployment gap is -2%.
-(Scenario: Taylor Rule) Look at the scenario Taylor Rule. The economy has:

• A)an inflationary gap, since the inflation rate is high.
• B)a recessionary gap, since the economy is not producing potential GDP.
• C)an inflationary gap, since actual real GDP exceeds potential real GDP.
• D)a recessionary gap, since potential real GDP exceeds actual real GDP.

Understand the principles behind social learning theory and its implications for observational learning.

Understand different forms of learning theories and their core principles.

Identify and describe the concept of cognitive maps and their role in learning.

Explain the blocking phenomenon in learning and why it occurs.

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Definitions:

Language Acquisition Device

A hypothetical module of the human mind posited to account for children's innate ability to acquire language rapidly as proposed by linguist Noam Chomsky.

Chomsky

Refers to Noam Chomsky, an influential linguist and cognitive scientist known for his theories on language acquisition.

Grammar

A group of established principles that control the formation of words, phrases, and clauses in a particular natural language.

Reduced Risk

Pertains to lowering the likelihood or severity of potential negative outcomes or harms.