Giffen Goods

question 253

Multiple Choice

Giffen goods

• A)are theoretical and have never been discovered in the real world.
• B)have not existed since prior to the Industrial Revolution.
• C)were proven to exist in the 1890s by Sir Robert Giffen.
• D)were not shown to actually exist until 2006.

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Definitions:

Consciousness

The condition of being conscious and capable of contemplating one's own being, feelings, ideas, and surroundings.

Dissociate

The process of experiencing a disconnection or lack of continuity between thoughts, memories, surroundings, actions, or identity.

Conscious Mind

The aspect of the mind that is aware of the present moment, responsible for thoughts, feelings, memories, and perceptions that one is actively aware of.

Hidden Observer

A hypothetical part of the mind proposed by Ernest Hilgard to account for phenomena in hypnosis where a subject can observe their pain without feeling distressed.