You Are Following the Plot of a Complicated Shakespeare Play

question 136

Multiple Choice

You are following the plot of a complicated Shakespeare play quite clearly while you are watching it.However, the next week you find that you cannot remember where the story was set, or the names of the main characters.Your loss of memory is most likely due to

• A)decay.
• B)interference.
• C)blocking.
• D)absentmindedness.

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Definitions:

Income Elasticity

A measure of how much the demand for a good or service changes in response to changes in consumers' income.

Coefficient

A numerical or constant quantity placed before and multiplying the variable in an algebraic expression, often indicating proportionality.

Normal Good

A good for which demand increases as consumer income rises, and decreases as consumer income falls.

Income Elasticity

A rephrased definition: The responsiveness of demand for an item to changes in the income of the people demanding the item.