The Concept That Memories of the Past Are Distorted to Conform

question 35

Multiple Choice

The concept that memories of the past are distorted to conform to current knowledge or goals refers to __________.

• A) hindsight bias
• B) the Pollyanna principle
• C) fragment completion
• D) frequency effect

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Definitions:

Total Utility

The complete satisfaction or fulfillment a person derives from consuming a certain quantity of goods or services.

Successful New Products

Innovations that achieve significant customer acceptance and financial viability within a market.

Total Spending

The aggregate amount of money spent by households, businesses, and the government on goods and services within a certain period.

Invention

The conception of a new product or process combined with the first proof that it will work.