"Ceteris paribus" assumption means
A) the role of rational self-interest in the economy.
B) that nothing else changes except the variables under consideration.
C) relying on real-world data in evaluating the usefulness of a model.
D) analysis that is strictly limited to making either purely descriptive statements or scientific predictions.
B
Economics
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Which type of graph is most useful in determining if two variables are correlated?
A) variable-correlation figure B) time-series C) scatter diagram D) cross-section E) None of the above answers is correct.
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A current price below the equilibrium price will result in a surplus.
a. true b. false
Economics