In an Economic Model

question 65

Multiple Choice

In an economic model:

• A) exogenous variables and endogenous variables are both fixed when they enter the model.
• B) endogenous variables and exogenous variables are both determined within the model.
• C) endogenous variables affect exogenous variables.
• D) exogenous variables affect endogenous variables.

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Definitions:

Operant Conditioning

A learning process in psychology where the strength of a behavior is modified by reinforcement or punishment.

Learned Association

Learned association is a fundamental concept in psychology that involves connecting two stimuli or events in the mind, leading to a change in behavior.

Behaviors

Actions or reactions of individuals or groups in response to external or internal stimuli.

Shaping

A method of teaching new behaviors by rewarding closer approximations of the desired behavior until the exact behavior is achieved.