The Market

question 21

Multiple Choice

The market

• A)On its own may not always provide the optimal mix of goods and services.
• B)Always provides the optimal mix of goods and services.
• C)Always provides a better mix of goods and services without government intervention than it does with government intervention.
• D)May not produce the optimal mix of output,which is known as government failure.

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Definitions:

War Of The Ghosts

"War of the Ghosts" is an experiment by Frederic Bartlett that demonstrated how memory reconstruction is influenced by personal biases and cultural context.

False Memory

“Recollections” of “events” that never in fact occurred. See also recovered memory and repressed memory.

Barsalou's Studies

Likely refers to research conducted by Psychologist Lawrence W. Barsalou, known for his work on cognitive psychology, particularly concepts and categorization.

False Memories

Memorable events that did not actually happen or are distorted recollections of what happened.