George Has Just Graduated from College and Is Going on His

question 68

Multiple Choice

George has just graduated from college and is going on his first big job interview.He has learned that there are 10 other applicants for the job.On account of information on the serial position effect that he learned in his psychology class, George prefers to be either the first or the last candidate interviewed.Why does he want to be interviewed as the first or last candidate?

• A)The serial position effect predicts that either the first or the last job applicant interviewed will be remembered better than the applicant interviewed second.
• B)The serial position effect predicts that the candidate interviewed in the "middle" position will be viewed less favorably than the other two applicants.
• C)Research has shown that the serial position effect is used often by management to arbitrarily hire job applicants.
• D)Research has shown that people interviewed either early or late in the day are evaluated most positively.

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Definitions:

Short-Run Phillips Curve

A curve that illustrates a short-term trade-off between inflation and unemployment, suggesting lower unemployment can come at the cost of higher inflation.

Financial Crisis

A broad term for a situation when financial assets rapidly lose a significant part of their nominal value.

Contractionary Monetary Policy

A central banking strategy involving the increase of interest rates or reduction of the money supply to decrease inflation and slow down economic growth.

Short-Run Phillips Curve

A curve illustrating an inverse relationship between the rate of inflation and the rate of unemployment in the short term.