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Henrich Notes That Conceptions of Justice and Fairness Remain Constant

question 30

True/False

Henrich notes that conceptions of justice and fairness remain constant across various cultures.


Definitions:

Autonomous Consumption

The level of consumption that occurs when income is zero, showing the basic level of consumption necessary for survival.

Permanent Income Hypothesis

A theory suggesting that people's consumption decisions are based on their long-term income expectations rather than their current disposable income.

Negative Savings

A situation where spending exceeds income, resulting in a deficit rather than savings.

Price Ceiling

A legally established maximum price that can be charged for a good or service, typically set by government.

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