The term "other things equal" means that:
A)the associated statement is normative.
B)many variables affect the variable under consideration.
C)the assumption that factors other than those being considered do not change.
D)when variable X increases so does related variable Y.

Question

Quizplus · Accepted Answer

"Other things equal" implies that all other factors or variables are held constant or do not change, and only the variable of interest is changing. This is an important assumption in economic analysis to isolate the effect of a single variable on an outcome.

The Term "Other Things Equal" Means That