A Participant in a Study Was Asked to Memorize a List

question 18

Multiple Choice

A participant in a study was asked to memorize a list of words and then try to recall as many as possible.This exercise was designed to test her:

• A)muscle memory.
• B)implicit memory.
• C)verbal memory.
• D)verbal comprehension.

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Definitions:

Substitution Effect

The change in consumption that results from a change in the price of one good relative to the prices of other goods, holding utility constant.

Income Effect

The change in consumption that results from a change in real income or purchasing power.

Demand Function

A mathematical model that describes the quantity of a good or service demanded at various prices, holding other factors constant.

Substitution Effect

The substitution effect is a concept in economics that describes how consumers change their consumption patterns in response to changes in the prices of goods, opting for cheaper alternatives when prices increase.