The post hoc, ergo propter hoc fallacy is the belief that
A. what is true for the whole is necessarily true of the parts.
B. what is true for a part is necessarily true for the whole.
C. it is impossible to draw generalizations about cause and effect.
D. if Event A happens before Event B happens, then Event A causes Event B to occur.
Answer: D
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The FOMC directive contains a target growth rate for
A) nominal GDP. B) real GDP. C) the inflation rate. D) M2.
A tax on sellers reduces the size of a market
a. True b. False Indicate whether the statement is true or false
In the simple circular flow model:
a. Businesses are sellers of both resources and products] b. Households are buyers of resources and demanders of products c. Households are buyers of products and sellers of resources d. Businesses are sellers of resources and demanders of products
Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?
a. Be envious b. Try to decrease your competitor's pie while increasing your own c. Do not be envious-focus on your slice of the profit pie d. All of the above