In an Effort to Discover Whether or Not Workers Understand

question 175

Multiple Choice

In an effort to discover whether or not workers understand inflation,economist Robert Shiller conducted a survey.When asked about the effect of general inflation on their wages or salary,the most popular response coming from workers was

• A)"My wages usually catch up to rising prices within a year."
• B)"The price increase will create extra profit for my employer....There will be no affect on my pay."
• C)"My wages have always increased by more than the rate of inflation."
• D)None of the above is correct.

---

Definitions:

Short-Term Memory

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

Short-Term Memory

A cognitive system that temporarily holds a limited amount of information in an accessible state for use in ongoing tasks.

Coded

Transformed into a systematic form (often numerical or symbolic) to classify and facilitate the analysis of data.

Working Memory

A cognitive system responsible for temporarily holding and processing information relevant to current tasks or activities.