Steele and Josephs Found That ___________ and They Called This

question 79

Multiple Choice

Steele and Josephs found that ___________ and they called this effect ____________.

• A)anxious laboratory rats will keep drinking alcohol until they die; counter-productive alcohol consumption
• B)people who are drunk often focus on the most notable environmental cue; alcohol myopia
• C)people who are drunk often focus on an inconspicuous detail of their environment; alcohol myopia
• D)people who are drunk often focus on the most notable environmental cue; counter-productive alcohol consumption

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Definitions:

Speculative Demand

Demand for an asset not for its intrinsic value or use, but for the expectation of selling it at a higher price in the future to make a profit.

Created Money

Money that has been generated through the banking system's lending processes, beyond the base money originally introduced into the economy.

Liquidity Trap

A situation where interest rates are low and savings rates are high, rendering monetary policy ineffective in stimulating economic growth.

John Maynard Keynes

A British economist whose theories on the causes of prolonged unemployment fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.