The Other-Things-Constant Assumption

question 27

Multiple Choice

The other-things-constant assumption:

• A)allows the economist to make useful predictions.
• B)is a prediction.
• C)applies only to consumers' decisions and not to those of firms.
• D)forces the economist to ignore reality,where things are constantly changing.
• E)implies rational self-interest on the part of all economic actors.

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Definitions:

Relay

An electrically operated switch that allows a circuit to be controlled by a low-power signal, or where several circuits must be controlled by one signal.

Contact

An electrical component used to complete or interrupt an electrical circuit.

Jog Pushbutton

A control button on a machine that, when activated, causes the machine to operate at a low speed for short periods, aiding in precise positioning.

Momentary Contact

A switch or relay contact that makes or breaks connection only while being actuated, returning to its original state afterward.