The "Superbowl Effect" mentioned in your textbook is considered a fallacy or a mistake in reasoning because it's wrong to believe
A) one event always causes another to happen if it comes before the other.
B) if you gain, I must lose.
C) the whole must always be equal to the sum of its parts.
D) what is true in one society will always be true in all societies.
E) whatever goes up must come down again.
A
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Business cycles are best categorized as
(a) fluctuations in the production and employment levels in the business sector of the economy. (b) major upswings and downturns in most sectors of the economy. (c) variations in international trade. (d) all of the above.
Public goods
A) are overproduced by unrestrained markets. B) are simply private goods that the government provides. C) cannot be consumed by more than one person without the degradation of the value of the good. D) can be consumed by more than one person without degradation of the value of the good.
The new growth theory emphasizes the critical role of ____ in modern economic growth
a. new machinery b. new knowledge c. new natural resources d. new government programs
A bond has a face value of $10,000, a price of $12,000, and coupon payments of $2000 for two years. The current yield of this bond is
A) 10%. B) 16.7%. C) 20%. D) 30%. E) none of the above