The Relative Price of a Good

question 77

Multiple Choice

The relative price of a good

• A)is always measured in current dollars.
• B)is a measure of the relative share of the consumer's income devoted to its purchase.
• C)is its price in terms of money.
• D)is equal to the average price of the good over the last 5 years.
• E)reflects its price in terms of units of other goods.

---

Definitions:

Feature Detectors

Specialized neurons in the brain that respond to specific features of a stimulus, such as edges, lines, or movements.

Human Faces

The front part of the head, including the eyes, nose, mouth, forehead, cheeks, and chin, unique to each individual.

Vision

The ability to interpret the surrounding environment using light in the visible spectrum reflected by the objects in the environment.

Opponent Process Theory

A psychological and neurological model that explains how the perception of colors is controlled by the operation of opposing neural systems.