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Identify any formal fallacies or fallacies of language in the following passage.
If the president is right, we need immigration reform. If the vice president is right, we need immigration reform. Therefore, if the president is right, the vice president is right.
Utility Function
A mathematical representation that ranks an individual's preferences over a set of goods and services, aiming to measure satisfaction or happiness.
Consumption
Households' utilization of goods and services.
Interest Rate
The percentage at which interest is paid by a borrower for the use of money they borrow from a lender.
Present Value
The current worth of a future sum of money or stream of cash flows given a specified rate of return.
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