Consider the Following Data, Where GDP Values Are Measured in Millions

question 117

Multiple Choice

Consider the following data, where GDP values are measured in millions of dollars, to answer the next seven questions:

-What was the growth rate of nominal GDP from 2010 to 2011? Round to the nearest second decimal.

• A) 4.94%
• B) 8.96%
• C) 8.23%
• D) 5.00%
• E) 10.00%

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Definitions:

Serial Position Effect

A cognitive phenomenon whereby items at the beginning and end of a list are remembered more easily and accurately than those in the middle.

Serial Position Effect

A phenomenon in memory which suggests that when learning a list of items, the probability of recalling an item is dependent on its position in the list, with early and late items being more likely to be remembered than middle items.

Primacy Effect

The tendency to remember information that is presented first or early in a list more effectively than information presented later.

Recency Effect

The psychological phenomenon where the most recently presented information is remembered better than earlier information.