Working Memory

question 29

Multiple Choice

Working memory

• A) holds visual images for a few seconds.
• B) is a limitless, permanent storehouse of knowledge.
• C) is like a computer's hard drive.
• D) is the site of ongoing cognitive activity.

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Definitions:

Normal Good

A normal good is a type of good for which demand increases when income increases, and falls when income decreases but price remains constant.

Income Rises

An increase in the amount of money received by individuals or entities, typically through wages, dividends, or investments.

Elastic Demands

Demand for a product or service that significantly changes in response to price changes, indicating high price sensitivity among consumers.

Luxuries

Luxuries refer to goods or services that are considered non-essential but desirable and are often associated with higher quality and price points than necessities.