What Do Economists Use the Term "Ceteris Paribus" to Indicate

question 46

Multiple Choice

What do economists use the term "ceteris paribus" to indicate?

• A)Supply and demand are in balance.
• B)Their conclusions are based on normative rather than positive economic analysis.
• C)Other things are assumed to remain constant.
• D)The analysis is true for the individual but not for the economy as a whole.

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Definitions:

P-values

P-values provide the probability of obtaining an effect at least as extreme as the one in your sample data, assuming the truth of the null hypothesis.

Standard Error

A statistic that measures the average distance that a sample statistic, such as the mean, deviates from the actual population mean.

Alternative Hypothesis

A statement that contradicts the null hypothesis and is tested directly in a hypothesis testing framework, assuming the null hypothesis is false.

T Procedure

A statistical test used to determine if there is a significant difference between the means of two groups when the variances are unknown and assumed to be equal.