When an Economy Experiences a Recession There Is

question 172

Multiple Choice

When an economy experiences a recession there is

• A) a leftward shift of the short-run Phillips curve.
• B) a rightward shift of the short-run Phillips curve.
• C) an upward movement along the short-run Phillips curve.
• D) a downward movement along the short-run Phillips curve.
• E) no change in the short-run Phillips curve.

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Definitions:

Short-Term Memory

The capacity for holding a small amount of information in mind in an active, readily available state for a short period of time.

George Miller

A psychologist best known for his theory on the limits of short-term memory, proposing that people can hold about 7 (plus or minus 2) items in their working memory.

Hermann Ebbinghaus

A German psychologist known for his pioneering work in the study of memory, including the discovery of the forgetting curve and the spacing effect.

Iconic Memory

A type of visual sensory memory that holds a brief photographic image for a few seconds after the exposure to the original stimulus.