-Refer to the above diagram which is for a private closed economy.All figures are in billions of dollars.If businesses were willing to invest $30 at each possible level of GDP,the equilibrium level of GDP would be:
Definitions:
Respondent Conditioning
A form of learning in which an individual develops a reflexive response to a previously neutral stimulus by associating it with another stimulus that already elicits that response.
Direct Reinforcement
The process by which a behavior is strengthened or increased by immediately following it with a positive stimulus or reward.
Self-Confidence
A person's belief in their own abilities, qualities, and judgment.
Complexity
The state or quality of being intricate or complicated, often referring to systems, organizations, or ideas.
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