Igor Has Not Been Skiing in 10 Years

question 2

Multiple Choice

Igor has not been skiing in 10 years.However,when he gets on his skis,his body remembers exactly how to ski.The kind of memory that makes it possible for him to
Remember how to ski is

• A) explicit.
• B) episodic.
• C) procedural.
• D) semantic.

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Definitions:

Laffer Curve

A theoretical representation of the relationship between tax rates and tax revenue, suggesting an optimal tax rate for maximizing revenue.

Supply-Side Economics

Main tenets: economic role of federal government is too large; high tax rates and government regulations hurt the incentives of individuals and business firms to produce goods and services.

Systematic Error

refers to a consistent, predictable error present in the results of measurements or experiments due to flaw in the measurement system.

Rational Expectations

A theory in economics suggesting that individuals make decisions based on their rational outlook, available information, and past experiences.