To Determine the Total Impact on Spending from an Initial

question 131

Multiple Choice

To determine the total impact on spending from an initial change of a given amount,you could use

• A) the Laffer curve.
• B) the spending multiplier.
• C) monetary policy.
• D) fiscal policy.
• E) automatic stabilizers.

Differentiate between credit sales and sales using bank credit cards.

Understand the recording of sales returns and allowances.

Distinguish the operating cycles and financial reporting between service and retail businesses.

Know how the cost of merchandise sold and inventory costs are determined and reported.

---

Definitions:

Sensory Memory

The shortest-term element of memory, responsible for holding sensory information for a few seconds or less.

Photographic Memory

A rare ability to recall images, sounds, or objects in great detail after only a few instances of exposure, without using mnemonics.

Classical Conditioning

A type of learning in which we link two or more stimuli; as a result, to illustrate with Pavlov’s classic experiment, the first stimulus (a tone) comes to elicit behavior (drooling) in anticipation of the second stimulus (food).

Implicit Memories

Memories that are not consciously recalled but influence behaviors and knowledge, such as procedural memory for tasks.