How do ceteris paribus and hypothesis relate in the field of economics?
a. Economists use ceteris paribus to declare that a hypothesis is not constant enough to be a theory.
b. Economists use ceteris paribus to declare that a hypothesis has been accepted as a theory.
c. Economists use ceteris paribus to test a hypothesis only if the two variables are intangible.
d. Economists use ceteris paribus to test a hypothesis with two variables while keeping other variables constant.
d. Economists use ceteris paribus to test a hypothesis with two variables while keeping other variables constant.
You might also like to view...
Which of the following is a feature of a perfectly competitive market?
A) There is only one seller of a commodity. B) The government rations commodities. C) Commodities are auctioned to the highest bidder. D) Each seller is too small to influence the market price.
The table above gives the values of different expenditures in the United States during 1999. Answer the following questions about the United States
a. What was the value of net exports of goods and services in 1999? b. What was (nominal) GDP equal to in 1999? c. What was the (nominal) value of total production equal to in 1999?