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Suppose That Macroeconomic Forecasters Predict That the Economy Will Be

question 35

Essay

Suppose that macroeconomic forecasters predict that the economy will be expanding in the near future.How might managers use this information?


Definitions:

Successive Approximations

A technique in behavior therapy and training that rewards behaviors that progressively get closer to the desired behavior.

Reinforcing

In the context of behavior, this term refers to the process of encouraging or establishing a pattern of behavior by providing a reward or consequence.

Extinction

The process by which a species, genus, or family ceases to exist.

Instrumental Conditioning

A training method whereby a behavior's intensity is altered through either positive reinforcement or negative punishment.

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