Which of the Following Is a Microeconomic Issue

question 48

Multiple Choice

Which of the following is a microeconomic issue?

• A) Why has unemployment risen nationwide?
• B) Why has economic growth been rapid in China?
• C) What is the impact on the quantity of Pepsi purchased if consumers' tastes change in favor of non-carbonated drinks?
• D) Why is the average income lower in Africa than in Latin America?
• E) Why did overall production increase within the United States last year?

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Definitions:

Response

A reaction to a specific stimulus or set of stimuli, which can be observable behavior or internal processes.

Intermittent Reinforcement

A conditioning schedule where a response is reinforced only some of the time, leading to more resistant behaviour to extinction.

Extinction

In psychology, the gradual weakening and disappearance of a conditioned response when the conditioned stimulus is no longer presented.

Continuous Reinforcement

A learning schedule in which a behavior is reinforced each time it is exhibited.