What Phrase Do Economists Use to Describe the Assumption That

question 54

Multiple Choice

What phrase do economists use to describe the assumption that everything else about a situation stays the same,while one variable,such as price,changes?

• A) E pluribus unum.
• B) Caveat emptor.
• C) Vini, vidi, vici.
• D) Ceteris paribus.

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Definitions:

Tenskwatawa

Tenskwatawa, also known as the Prophet, was a Native American religious and political leader of the Shawnee tribe in the early 19th century, known for his opposition to U.S. expansion and his role in the pan-Indian alliance.

Free Trade

An economic policy that allows imports and exports to flow freely between countries without tariffs, quotas, or restrictions.

Sailors' Rights

A slogan and movement advocating for the protection and legal rights of sailors, especially relevant during the early 19th century in opposition to impressment by the British Navy.

War of 1812

A military conflict fought between the United States and the British Empire (and their respective allies) from 1812 to 1815, largely over issues of trade and maritime rights.