Economists use the phrase ceteris paribus to express the assumption

A. "everything affects everything else."
B. "there is no such thing as a free lunch."
C. "all else equal."
D. "scarcity is a fact of life."


Answer: C

Economics

You might also like to view...

An inflation rate that exceeds 50 percent per month is referred to as

A) hyperinflation. B) destructive deflation. C) superflation. D) anticipated inflation.

Economics

Developing countries have not benefited as much as expected from their higher education programs because of

(a) lack of program focus on the needs of the country. (b) increasing returns to scale in each individual's education. (c) graduates get jobs in the private sector. (d) all of the above.

Economics

After a shift in the aggregate demand curve, which variable adjusts to restore general equilibrium?

A) price level B) real interest rate C) consumption spending D) investment spending

Economics

Two cities face identical prices for their housing. City A decided to be a pollution free city "Clean town" and all the factories would locate in city B "Smogville", we expect the prices of housing in city B "Smogville" to

a. increase b. decrease c. stay the same d. none of the above

Economics