Which of the following best illustrates the fallacy of composition?
a. If I stand up at a baseball game I will be able to see the game better; if all fans stood up at a baseball game they would all be able to see the game better.
b. If I wore a jacket to a baseball game in October, I would be warmer; if all fans wore jackets they would all be warmer.
c. If I purchase fewer concessions at a baseball game, I will save money; if all fans purchase fewer concessions then all can save money.
d. If I yell more during a baseball game it will be louder if all fans yell more during the game it will be much louder.
a
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Which of the following is true of the quantity demanded of reserves?
A) The quantity demanded of reserves increases as the federal funds rate falls. B) The quantity demanded of reserves increases as the inflation rate increases. C) The quantity demanded of reserves is constant over time for almost every bank. D) The quantity demanded of reserves increases at a constant rate over time.
Why might economic policies aimed at stabilization actually increase the magnitudes of economic fluctuations?
What will be an ideal response?