"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:

Likert Scale

A psychometric scale commonly involved in research that employs questionnaires, used to represent people's attitudes, opinions, or perceptions quantitatively.

Personality Questionnaire

A psychological assessment tool used to evaluate the personality traits and characteristics of an individual.

Normal Distribution

A statistical distribution that is symmetric around the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Score

A quantitative expression of achievement, performance, or ability, often in tests and competitions.