​Exhibit 4-11 Refer to Exhibit 4-11

question 120

Multiple Choice

​Exhibit 4-11 Refer to Exhibit 4-11.  Suppose that the government imposes a price ceiling in the market for good ABC at a price of $4.  The result of the price ceiling would be a ____________ of ______ units of good ABC.

• A)shortage; 20
• B)surplus; 20
• C)shortage; 60
• D)surplus; 60

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Definitions:

Mood-Congruent Memory

The tendency to recall information or events that are consistent with one's current mood, influencing and reinforcing emotional states.

Serial Position Effect

A memory phenomenon where items at the beginning and end of a list are more likely to be recalled than those in the middle.

Primacy Effect

The tendency to remember items at the beginning of a list better than those in the middle or at the end.

Autobiographical Memory

A subset of episodic memory, consisting of a person's recollections of their past experiences and events that have personal significance.