Chapter 4 Discussed Research on the Recency Effect

question 12

Multiple Choice

Chapter 4 discussed research on the recency effect. How is this research related to short-term memory?

• A) The final words in a list are recalled accurately because they are still in short-term memory.
• B) There is a clear-cut difference between pattern perception and short-term memory.
• C) The material can pass directly into long-term memory, without first entering short-term memory.
• D) The recency effect showed that the capacity of short-term memory is extremely large.

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Definitions:

High Barriers to Entry

Obstacles that make it difficult for new competitors to enter an industry, such as high startup costs or strict regulations.

Marginal Revenue

The extra revenue earned by selling an additional unit of a product or service.

Profit-Maximizing Monopolist

A monopolistic firm that seeks to maximize its profits by adjusting output or prices, considering its unique market power without competition.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.