According to Galbraith, Which Notion Still Survives as the Predominate

question 42

Multiple Choice

According to Galbraith, which notion still survives as the predominate view of modern economics?

• A) The notion that the customer is always right
• B) The notion that if the supply decreases, then the demand will increase proportionally
• C) The notion that consumers buy in accordance with independently determined wants
• D) The dependence effect
• E) The independence effect

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Definitions:

Paranoid

A state of mind characterized by irrational distrust or suspicion of others, often leading to misinterpretation of others' intentions as malevolent.

In-group Member

An individual who belongs to and identifies with a specific social group, leading to a sense of belonging and identity within that group.

Out-group Member

An individual who is perceived as not belonging to one's own group, often seen as different or outside the in-group.

In-group Norms

The shared expectations and rules that guide the behavior of members within a group.