What is the "omitted variable" problem in determining cause and effect?

A) It is a problem that arises when an economic variable that affects other variables is omitted from an analysis and its omission leads to false conclusions about cause and effect.
B) It is a problem that arises when a significant variable is not given enough weight in an economic experiment leading to skewed conclusions about cause and effect.
C) It is a problem that arises when an insignificant economic variable that should have been omitted is included in an economic experiment leading to false conclusions about cause and effect.
D) It is a problem that arises when an insignificant variable is given too much weight in an economic analysis leading to skewed conclusions about cause and effect.

A

Economics

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Which of the following expressions equals profit per unit of output?

a. MR - MC b. P - AVC c. MR - P d. P - ATC e. MR - ATC

Economics

The longest expansion of the United States economy since 1925 began in:

A. 1961. B. 1991. C. 1982. D. 1945.

Economics