According to the Real Business Cycle Theory, Which of the Following

question 133

Multiple Choice

According to the real business cycle theory, which of the following is a true statement about the effects of an oil shock in the 1970s?

• A) The shock affected real variables only and did not affect nominal variables.
• B) The shock shifted the short-run aggregate supply curve but not the long-run aggregate supply curve.
• C) The natural rate of unemployment remained unchanged, but employment levels did decline.
• D) Relative prices changed but there was no impact on the price level in general.

Comprehend the principles of self-determination theory and its emphasis on autonomy and motivation.

Discuss the concept of learned helplessness and its psychological implications.

Understand the significance of goal setting and the factors influencing goal pursuit and achievement.

Explore the impact of positive illusions on goal setting and self-perception.

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Definitions:

Classical Conditioning

A learning process where a neutral stimulus becomes associated with a meaningful stimulus and acquires the capacity to elicit similar responses.

Rescorla

Robert Rescorla, a psychologist best known for his work with Allan Wagner on the Rescorla-Wagner model of classical conditioning, focusing on the predictability of the unconditioned stimulus.

Classical Conditioning

An educational strategy where two stimuli are habitually paired together, causing a response that initially results from the second stimulus to be gradually elicited by the first stimulus.

Likelihood Of Occurrence

Refers to the probability or chance that a given event will happen.