When economists use the term "ceteris paribus," they mean that:
a. the causal relationship between two economic variables cannot be determined.
b. the analysis is true for the individual but not for the economy as a whole
c. all other variables except the ones specified are assumed to be constant.
d. their conclusions are based on normative rather than positive economic analysis.
c
Economics
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Keynes rhymes with
A) beans. B) gains. C) genies. D) none of the above.
Economics
A growing government budget deficit and national debt reduces economic growth because
A) it insures that future generations will have to pay the debt. B) it reduces public investment. C) it reduces household saving. D) it diverts private savings from the financing of private investment.
Economics