Thinking Like a Macroeconomist Means Focusing on the Connections Between

question 56

Multiple Choice

Thinking like a macroeconomist means focusing on the connections between

• A) additional benefits and additional opportunity costs.
• B) competition and cooperation.
• C) marginal benefit and marginal cost.
• D) the banking system and the Canadian economy.
• E) none of the above.

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Definitions:

Fuzzy Trace Theory

States that memory is best understood by considering two types of memory representations: (1) verbatim memory trace; and (2) fuzzy trace, or gist. According to this theory, older children’s better memory is attributed to the fuzzy traces created by extracting the gist of information.

Verbatim Memory Trace

The detailed and precise recall of exact details, such as words or images, from memory.

Grist

Material or ideas ready to be used or turned into something valuable.

Three-dimensional

Pertaining to or having length, width, and depth.