The "all other things unchanged" assumption is useful because it:
A) states the main economic objectives.
B) is a vehicle for determining whether a particular outcome is "good" or "bad.".
C) helps to approximate real-world conditions.
D) helps to restrict analysis to the effect of a single economic factor.
Correct Answer:
Verified
Q84: The Case in Point on "baldness and
Q85: The incorrect presumption that because two events
Q86: Economists are:
A) concerned with developing theories but
Q87: A term that means "all other things
Q88: Reaching the incorrect conclusion that one event
Q90: The use of controlled experiments using particular
Q91: A variable that induces a change in
Q92: Suppose you observe that the sun sets
Q93: The "all other things unchanged" assumption is
Q94: A simplified representation of a particular problem
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents