Explain what post hoc fallacy means and give an example
What will be an ideal response?
Post hoc fallacy is a common error in thinking about causation. An example would be "if Event A happens before Event B, Event A must have caused Event B to occur".
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Many railroads received government subsidies and land grants and, thus, were influenced by the government
Indicate whether the statement is true or false
Lags in the approval and implementation of fiscal policy: a. weaken fiscal policy as a tool of economic stabilization
b. increase the effectiveness of fiscal policy as a tool of economic stabilization. c. help legislators better assess what policies are most appropriate to adopt. d. make fiscal policy more responsive to the current economic environment. e. cause fiscal policy to be more effective at changing the level of real GDP than changing the price level only in the long run.