Explain what the post hoc fallacy is. Give an example
Please provide the best answer for the statement.
It means “after this, therefore because of this.” It is the mistaken belief that when one event precedes another, the first event is the cause of the second. An example: I washed my car today; therefore it will rain tomorrow.
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According to the matrix shown, the profit-maximizing outcome for the firms is:
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
A. to act like a monopolist and both collude.
B. to both compete.
C. for Firm A to compete and Firm B to collude.
D. for Firm B to compete and Firm A to collude.
Universal servicemeans that one company provides service to all consumers, everywhere.
Answer the following statement true (T) or false (F)
When comparing monetary and fiscal policy under fixed and floating exchange rate regimes, which of the following statements is FALSE?
A) In a floating exchange rate regime, an expansionary monetary policy is effective by stimulating spending and by depreciating the currency. B) In a floating exchange rate regime, an expansionary fiscal policy is effective by stimulating spending, though there may be crowding-out effects due to higher rates of interest and currency appreciation. C) In a fixed exchange rate regime, an expansionary monetary policy is effective by stimulating spending; it has no impact on the currency value or the trade balance. D) In a fixed exchange rate regime, an expansionary fiscal policy is effective by stimulating spending, as long as the parallel expansionary monetary policy keeps exchange rates stable.
In the above figure, what is the profit-maximizing output and price?
A) 8, $7 B) 10, $8 C) 12, $10 D) 10, $10