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During load shedding, Ayanda does not want to finish eating her vanilla ice cream because, as she puts it, 'When the lights went out, the ice cream turned black, and I don't like black ice cream!' Ayanda is in the ____ stage of development.
Laffer Curve
A theoretical representation suggesting that there is an optimal tax rate that maximizes revenue without discouraging economic activity.
Classical Economists
Economists and thinkers primarily from the 18th and 19th centuries, such as Adam Smith, David Ricardo, and John Stuart Mill, who focused on developing theories about the workings of market economies.
Quantity Theory of Money
An economic theory which proposes that the amount of money in an economy is directly proportional to the level of economic activity.
Sophisticated Version
An advanced or complex form of something, often referring to technology, systems, or methodologies.
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