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A change in tax rates is likely to affect individuals' behavior regarding consumption and saving if
Adolescence
The transitional phase of growth and development between childhood and adulthood, typically involving significant physical, psychological, and social changes.
Identity
The sense of self, including personal qualities, beliefs, values, and perceptions, which distinguishes an individual from others.
Formal-operations Stage
The final stage of Piaget's theory of cognitive development, starting around age 12, where abstract, logical, and systematic thinking becomes possible.
Concrete-operations Stage
The stage in Piaget's theory of cognitive development, from ages 7 to 11, when children gain a better understanding of mental operations and can think logically about concrete events.
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