Examlex
Which of the following did not join the League of Nations?
Fallacy of Composition
The erroneous belief that what is true for a part will also be true for the whole, or that individual actions will have the same effect when applied collectively.
Positive Economics
The scientific study of “what is” among economic relationships.
Normative Economics
Judgments about “what ought to be” in economic matters. Normative economic views cannot be proved false because they are based on value judgments.
Unintended Consequences
Outcomes that are not the ones foreseen or intended by a purposeful action.
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