The basic purpose of the other-things-equal assumption is to:
A. allow one to reason about the relationship between variables X and Y without the intrusion
of variable Z.
B. allow one to focus upon micro variables by ignoring macro variables.
C. allow one to focus upon macro variables by ignoring micro variables.
D. determine whether X causes Y or vice versa.
Answer: A
You might also like to view...
According to the neoclassical growth theory
A) increases in labor productivity are only temporary. B) technological change depends on people's choices. C) forces other than GDP growth determine population growth. D) higher saving rates generate permanently faster growth in GDP per person.
Standardized goods and services refers to those that:
A. are interchangeable. B. have close substitutes. C. are unique. D. are regulated by the government.
The term “unemployed” includes all people who want a job, but don’t have one.
Answer the following statement true (T) or false (F)
A weaker dollar:
A. raises inflation and expands the economy. B. reduces inflation and expands the economy. C. reduces inflation and contracts the economy. D. raises inflation and contracts the economy.