Examlex
Keynes believed that increased saving:
Perceptual Expectancy
The predisposition to perceive things in a certain way due to previous experiences or assumptions.
Previous Experiences
All the events, knowledge, learning, and personal developments that an individual has encountered prior to the current moment.
Just Noticeable Difference
The minimum level of stimulus intensity change needed to produce a noticeable variation in sensory experience.
Difference Threshold
The minimum difference in stimulation that a person can detect 50% of the time, also known as the just noticeable difference (JND).
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