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.
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
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