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

question 83

Multiple Choice

"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.

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Definitions:

Somatic

Relating to the body, particularly the external parts and not the reproductive organs, often in contrast to psychological or mental aspects.

Oculomotor

Pertaining to the movement of the eyeball and the muscles controlling it, often in reference to the oculomotor nerve.

Trochlear

Refers to the fourth cranial nerve, responsible for eye movement.

Abducens

The sixth cranial nerve, which controls the lateral rectus muscle of the eye, responsible for outward eye movement.