You Get a Free Sample of a New Cereal in the Mail.The

question 1

Multiple Choice

You get a free sample of a new cereal in the mail.The company hopes you will try the cereal and then feel obligated to buy it.What term do psychologists use to describe this phenomenon?

• A)norm of reciprocity
• B)indebtedness
• C)augmented return
• D)social facilitation

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Definitions:

Keynes

From the UK, this economist's theories ushered in a new era for macroeconomic practice and governmental economic policy-making.

The Classicals

Economists from the 18th and 19th centuries who laid the foundations of classical economics, focusing on free markets and self-regulating economies.

Say's Law

An economic theory that proposes that supply creates its own demand, suggesting that production is the source of demand and that markets naturally balance over time.

Classical Economics

A school of thought in economics that emphasizes the role of free markets in facilitating economic development and regulating economic systems.