A Participant Reads a List of Words, and the Word

question 38

Multiple Choice

A participant reads a list of words, and the word "elephant" appears several times in that list. Later, the participant tachistoscopically views another list of words. When the word "elephant" appears in the second list, the participant's response rate is faster than for other words not found on the previous list. This effect is called:

• A) the word-superiority effect
• B) the redundancy claim
• C) working-memory availability
• D) repetition priming

Understand how fiscal policy influences the economy primarily in the short run.

Identify the effects of interest rate changes on investment and consumption.

Understand the multiplier effect and its impact on aggregate demand.

Recognize the role of government and central bank policies in adjusting to economic fluctuations.

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Definitions:

Demand Curve

An illustrated chart that displays the connection between a product's price and the amount consumers want to buy.

Quota

Trade limitations set by the government which restrict the amount or fiscal value of products that can be brought in or sent out over a certain period.

Demand Price

The maximum amount consumers are prepared to spend on a product or service for a specific quantity.

Taxicab Medallions

License plates issued by a local government authority that allow a vehicle to operate as a taxi.