Potential Pitfalls When Using Scientific Thinking
What will be an ideal response?
1. the "ceteris paribus" assumption
2. confusing correlation with causation
3. the fallacy of composition
Economics
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Define gross investment and net investment. Discuss the relationship between gross investment and net investment
What will be an ideal response?
Economics
If an increase in price results in no change in total revenue, then demand must be
A) inelastic. B) elastic. C) unit elastic. D) infinitely elastic.
Economics