Some Economists Have Noted That Throughout Recent U

question 74

Multiple Choice

Some economists have noted that throughout recent U.S.history,as the occurrence of sun spots has increased,so has the rate of overall inflation.If any of these economist based this observation on a short-term forecast of inflation,he/she would be:

• A)confusing the problems of scarcity and abundance.
• B)committing the fallacy of composition.
• C)committing the error of interpreting association as causation.
• D)using normative analysis.
• E)committing the fallacy of double counting.

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Definitions:

Liquidated Debt

A debt for which the amount owed is known and undisputed.

Unliquidated Debt

A debt for which the amount has not been predetermined or agreed upon, often because the extent of damages or compensation cannot be readily quantified.

Accord And Satisfaction

A legal contract where a dispute is settled by the parties involved agreeing to give and accept something of value in resolution, significantly altering the original contract's terms.

Unilateral Contract

A contract in which one party promises to perform a specific action in return for a performance, not a promise, by the other party.