If the Price of a Good Has Risen Over Time

question 69

Multiple Choice

If the price of a good has risen over time,

• A)it must have become more scarce.
• B)it must have become less scarce.
• C)it has become more scarce only if the price adjusted for inflation has risen.
• D)it has become less scarce only if the price adjusted for inflation has risen.

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Definitions:

Implicit Procedural Memories

Memories of motor skills and actions that have been learned previously and can be performed without conscious thought.

Cerebellum

A region o the brain that plays an important role in motor control and coordination.

Temporal Lobe

A region of the brain located at the sides near the temples, important for processing auditory information and encoding memory.

Hippocampus

A major component of the brains of humans and other vertebrates, involved in the consolidation of information from short-term memory to long-term memory and spatial navigation.