Our Tendency to Judge Various Stimuli Relative to Those We

question 389

Multiple Choice

Our tendency to judge various stimuli relative to those we have previously experienced is called

• A) an internal locus of control.
• B) the adaptation-level phenomenon.
• C) the relative deprivation principle.
• D) the feel-good,do-good phenomenon.

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded.

Nominal Interest Rate

The stated interest rate on a loan or investment, not adjusted for inflation.

Loanable Funds

The money available for borrowing; the market where savers supply funds for loans to borrowers.

Supply

A relation between the price of a good and the quantity that producers are willing and able to sell per period, other things constant.