When Studying the Effects of Changes in Public Policy,economists Believe

question 237

Multiple Choice

When studying the effects of changes in public policy,economists believe that

• A)it is important to distinguish between the short run and the long run.
• B)the assumptions used in studying those effects should be the same for the short run as for the long run.
• C)the short-run effects of those changes are always more beneficial to society than are the long-run effects.
• D)the long-run effects of those changes are always more beneficial to society than are the short-run effects.

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Definitions:

Temporal Lobes

The regions of the brain located beneath the Sylvian fissure on both cerebral hemispheres, involved in processing auditory information and encoding memory.

Information-Processing Model

A cognitive approach that compares the mind to a computer, emphasizing how information is input, processed, stored, and retrieved.

Iconic Memory

A type of visual sensory memory that holds a brief photographic image of a scene that has just been observed.

Capacity

The maximum amount that something can contain or the ability to perform, function, or produce effectively.