"Mediocre economists often consider only the immediate apparent effects of a change, whereas a good economist will also consider effects that may only become observable over time." This statement most clearly emphasizes
A) the fallacy of composition.
B) economizing behavior.
C) the importance of secondary effects.
D) the fact that association is not causation.

Question

Quizplus · Accepted Answer

The statement highlights the importance of considering not just the immediate effects of an economic change, but also the secondary effects that may emerge over time, which is a key aspect of thorough economic analysis.

"Mediocre Economists Often Consider Only the Immediate Apparent Effects of a Change