Economists use the ceteris paribus assumption primarily in order to
A) make their analyses easier for them to conduct.
B) designate what they believe is the correct relationship between two variables.
C) explain why people sometimes consume more of a good when its price rises.
D) explain why those things that come first do not necessarily cause those things that come later.
E) designate the difference between normative and positive economics.
B
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Suppose the equilibrium price of cotton is $100 per ton. A price support set at ________ than $100 per ton ________
A) less; increases producer surplus B) less; increases consumer surplus C) more; increases consumer surplus D) more; decreases marginal cost E) more; creates a surplus that the government must buy
The measure of money supply that includes the fewest types of assets:
a. is M4. b. is M2. c. is M3. d. is M1. e. is M0.