21) Suppose an economy has two types of money — gold and silver coins — that are both legal tender but have different non-monetary values. Gresham’s law has come into effect when A) people refuse to use the coins of lesser value. B) the value of the coins is in the same ratio as their non-monetary values. C) the lower-valued coin is taken out […]
17.1 How the Fed Conducts Monetary Policy 1) The main goals of monetary policy include all of the following EXCEPT A) keeping the long term nominal interest rate equal to the real interest rate plus the inflation rate. B) keeping the inflation rate low. C) keeping the unemployment rate close to the natural unemployment rate. D) attaining the maximum sustainable growth of […]
4.2 Supply 1) To be part of the supply for a good, a producer must be A) only able to supply the good. B) only willing to supply the good. C) both able and willing to supply the good. D) both able and willing to supply the good, and have already identified a buyer. E) both able and willing to supply the good, […]
151.Standard Mediahas a required rate of return of 5 percent, a cost of capital of 4 percent, and an income tax rate of 30 percent. The following information about its two divisions has been provided by management: Audio DivisionVideo Division NOPAT$1,400,000$2,000,000 Sales$10,000,000$12,500,000 Invested capital$15,000,000$17,500,000 An opportunity is available that yields an expected income of $45,900 on an investment of $450,000.If the […]
61) Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. He is willing to pay $200 for the dozen fish, but buys them for a total of $140. Marco’s consumer surplus from the purchase is A) $5. B) $60. C) $140. D) $200. 62) Brett buys a new cell phone for $100. He receives consumer […]
101. Which cost is charged to the product under variable costing? a.Variable manufacturing overhead b.Fixed manufacturing overhead c.Variable administrative expenses d.Fixed administrative expenses a102.Variable costing a.is used for external reporting purposes. b.is required under GAAP. c.treats fixed manufacturing overhead as a period cost. d.is also known as full costing. a103.Sprinkle Co. sells its product for $20 per unit. During 2013, […]
10.3 Government in Loanable Funds Market 1) For a government to add to the supply of loanable funds, it must A) borrow. B) have a budget surplus. C) have a budget deficit. D) raise the real interest rate. E) increase its investment demand. 2) If a government has a budget deficit, it must A) borrow in the loanable funds market. B) increase […]
51) Refer to Figure 16-3. Assume there are two types of firms in this region – beekeepers that produce honey and orchard keepers that produce peaches. The bees provide a benefit to the orchard keepers by pollinating their peach trees. If represents the social marginal benefit of honey, the external benefit associated with producing one unit of honey is A) $1. B) $2. C) […]
21) Which of the following statements about comparative advantage is true? A) A country with a rising price level will lose any existing comparative advantage. B) To have a comparative advantage a country must also have an absolute advantage. C) Comparative advantage is based solely on differences in factor endowments. D) Comparative advantage for certain products may be acquired by deliberate domestic government policy. […]
31) What happens to the demand for loanable funds curve when the economy enters a recession? A) The demand for loanable funds curve shifts rightward because the real interest rate falls. B) The demand for loanable funds curve shifts leftward because the real interest rate falls. C) The demand for loanable funds curve shifts rightward because expected profit falls. D) The demand for […]
91.Which of the following is demonstrating extinction of an operant response?
A)Ginny, who learns to dress herself when her mother reinforces her for accomplishing each small step in the process
B)Ron, who receives praise every time he puts his schoolbooks away
C)Hermione, who eventually stops raising her hand when Professor Snape fails to call on her
D)Harry, who learns secret routes that provide an escape from the Dark Forest when he is under attack
E)Malfoy, who leaves school two days early at Christmas break to avoid the rush of holiday traffic
92.Compared to continuous reinforcement, partial reinforcement results in _______ learning that is _______ to extinguish.
A)faster; harder
B)slower; harder
C)faster; easier
D)slower; easier
E)faster; equally difficult
93.Compared to ratio schedules, interval schedules
A)result in faster response rates.
B)result in slower response rates.
C)result in similar response rates.
D)sometimes result in faster response rates and sometimes result in slower response rates.
E)can only be administered on a variable basis.
94.Vlad receives $100 for every ten telemarketing calls he makes. This is an example of a ______ schedule of reinforcement.
A)fixed ratio
B)variable ratio
C)fixed interval
D)variable interval
E)100/10
95.The rats in Dr. Rexington’s learning laboratory are on an “FR-7” schedule of reinforcement. What does this mean?
A)The rats will receive a food pellet after every seventh bar press.
B)The rats will receive a food pellet after an average of every seven bar presses.
C)The rats will receive a food pellet every seven minutes.
D)The rats will receive a food pellet an average of every seven minutes.
E)The rats will receive a food pellet every seven minutes, unless they press the bar seven times in a shorter period of time.
96.A child receives a dime for, on average, every 5 dandelions he pulls from the yard. This is an example of a ______ schedule of reinforcement.
A)fixed ratio
B)variable ratio
C)fixed interval
D)variable interval
E)continuous reinforcement
97.Which of the following best describes charted data for a variable interval schedule of reinforcement?
A)slight dip in responses after reinforcement
B)slow, steady rate of response
C)responses decrease after an initial steep increase
D)fast, steady rates of response
E)responses pause after each reinforcement
98.A schedule of reinforcement in which the first response performed after a specific amount of time has passed is reinforced is called a
A)fixed-ratio schedule.
B)fixed-interval schedule.
C)variable-interval schedule.
D)variable-ratio schedule.
E)continuous reinforcement schedule.
99.Which of the following people is on a variable-ratio schedule of reinforcement?
A)Phillip, who is playing a slot machine at a casino
B)Colette, whose teacher uses pop quizzes
C)Jim, whose professor schedules three exams for the semester, one for every five weeks
D)Elissa, who receives a monthly performance evaluation
E)Angela, who receives compensation for every student she recruits for her college
100.In this type of schedule of reinforcement, a person receives reinforcement for different time periods, and the time periods are not always the same.
A)fixed-interval
B)variable-interval
C)variable-ratio
D)fixed-ratio
E)continuous
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