Someone who committed the association-is-causation fallacy might conclude that
a. event B, which follows event A, was caused by the event A
b. event B, which follows event A, was not necessarily caused by event A
c. the simplest model is the best predictor
d. what is true for the individual is also true for the group
e. what is true for the individual is not necessarily true for the group
A
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The Fed conducts an open market operation and buys $50,000 of government securities from Commerce Bank. The desired reserve ratio is 25 percent. What is the change in Commerce Bank's total reserves and its excess reserves?
What will be an ideal response?
Assuming a homogeneous product, the Bertrand equilibrium price is
A) independent of the number of firms. B) independent of the firm's marginal costs. C) equal to the Cournot equilibrium price. D) equal to the monopoly price.