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(1) Briefly explain Galbraith's argument. What is the main claim he is defending? What reasons does he give you to think that is true?
(2) Briefly state your own view. Do you agree or disagree with Galbraith? Why?
The end result should be no more than one page long.
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Explanation & Answer
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Running head: DEPENDENCE EFFECT
DEPENDENCE EFFECT
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DEPENDENCE EFFECT
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Galbraith is an economist who did believe in transforming the lives of the people based
on their economic status. He did come up with a theory that explains how consumer demands for
products based on what they find important or useful at that particular time. He went against the
demand and supply rule...
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