During the Great Depression, Consumers and Producers in the United

question 103

Multiple Choice

During the Great Depression, consumers and producers in the United States dramatically reduced their spending as compared to the quantity of goods and services available at the time. This statement best represents this economic concept:

• A)Resources are scarce.
• B)When markets don't achieve efficiency, government intervention can improve society's welfare.
• C)Overall spending sometimes gets out of line with the economy's productive capacity.
• D)Government policies can change spending.

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Definitions:

Skinner Box

An experimental apparatus used by B.F. Skinner in the study of animal behavior to investigate the effects of systematic reinforcement.

Power Cord

An electrical cable that temporarily connects an appliance to the mains electricity supply via a wall socket or extension lead.

Negative Reinforcement

A behavioral principle where the removal of an undesirable or unpleasant stimulus following a behavior increases the likelihood of that behavior being repeated in the future.

Video Game System

An electronic device designed specifically for playing video games that comprise both hardware and software components.