If We Observe That the Price of Orange Juice Futures

question 162

Multiple Choice

If we observe that the price of orange juice futures is extremely high, we might conclude that:

• A) there will be a bumper crop of oranges in the future.
• B) bad weather is expected to destroy orange crops.
• C) there will be weak demand conditions for oranges in the future.
• D) good weather is expected in orange-growing areas.

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Definitions:

Proximal Stimulus

The physical energy from a stimulus as it directly interacts with the sensory receptors, such as the light hitting the retina.

Sensory Stimulus

Any object or event that elicits a sensory response.

Phi Phenomenon

An optical illusion in which stationary objects shown in rapid succession, such as flashing lights, appear to be moving.

Feature Detection

A process by which the nervous system detects specific elements of visuals, such as lines, edges, or movements, in order to recognize objects.