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How does the real interest affect households' decisions about saving?
Moral Development Theory
A framework that discusses how people evolve in their understanding and reasoning about what is right and wrong.
Preconventional
The first level in Kohlberg's stages of moral development, where moral reasoning is based primarily on external consequences and personal benefit.
Conventional
Pertaining to what is considered typical, traditional, or in accordance with established norms and standards.
Postconventional
Referring to the stage of moral development at which an individual's sense of ethics comes from internal beliefs that transcend societal norms and laws.
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