The idea that most experiences can be stored in memory exactly (verbatim) or in terms of their basic meaning (gist) is known as fuzzy trace theory.

Name: The idea that most experiences can be stored in memory exactly (verbatim) or in terms of their basic meaning (gist) is known as fuzzy trace theory.
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This statement is true. Fuzzy trace theory suggests that experiences can be stored in memory in a verbatim form (exact wording) or as a gist (basic meaning or essence of the experience).

The Idea That Most Experiences Can Be Stored in Memory