A Purchase of Foreign Goods Within the U

question 64

Multiple Choice

A purchase of foreign goods within the U.S.will be recorded in the BOP as

• A)an asset in the current account.
• B)a debit in the current account.
• C)because the purchase is made in the U.S.,it will have no record in the BOP.
• D)a liability in the foreign transfer account.

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Definitions:

Sensory Adaptation

The process by which sensory receptors become less sensitive to constant or unchanging stimuli over time.

Perceptual Set

A psychological framework that influences how we perceive and interpret sensory information based on our expectations, culture, and past experiences.

Top-Down Processing

The operation in sensation and perception, launched by cognitive processing at the brain’s higher levels, that allows the organism to sense what is happening and to apply that framework to information from the world.

Absolute Threshold

The minimum intensity of stimulation that must occur before you experience a sensation.