One might commit the fallacy of composition by concluding that
a. statements that are true during prosperity are necessarily true during depression
b. what is good for the individual is necessarily good for the group
c. an event that precedes another is necessarily the cause of the latter
d. intentions need not coincide with actions
e. the composition of a complex product is not revealed by its exterior appearance
B
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Spending on programs that Congress authorizes ________ is known as discretionary spending
A) after approval from the Federal Reserve B) on an off-budget emergency basis C) by prior law D) on an annual basis
Generally with bond ratings, the ________ the rating, the higher the interest rate an investor will receive and the ________ the risk that the issuer of the bond will default
A) higher; higher B) higher; lower C) lower; higher D) lower; lower