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Jeff's cat is classically conditioned to salivate at the sound of the electric can opener. One day while Jeff is doing some repairs in the kitchen, he notices that his cat salivates every time he uses his electric drill, which sounds similar to the can opener. In this situation, the cat is displaying _____.
Single Tax
A fiscal system proposing a single tax as the primary or sole source of public revenue, often associated with taxing land value.
Economic Rents
Earnings exceeding the minimum amount necessary to keep a factor of production in its current use, often associated with imperfect competition or unique resources.
Land Ownership
The legal right to possess, use, and manage a piece of land.
Compound Interest
The accumulation of money that builds over time in an investment or interest-bearing account as new interest is earned on previous interest that is not withdrawn.
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