Scenario 4-1 In a Given Year, Country a Exported $12 Million Worth

question 1

Multiple Choice

Scenario 4-1
In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.
-Which of the following is a step that economist​s take in order to examine a real-world issue?

• A)​Determine the results that will occur if the market being considered is a controlled market
• B)​Look at the real-world results to see the similarities they hold with the results of a free market
• C)​Suggest remedies and policies to alter the results of a free-market
• D)Suggest remedies or policies to alter the real-world result
• E)​Assume that the market transactions, in a real-world, is completely controlled by the government

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Definitions:

Logical Strength

The degree to which the premises of an argument support its conclusion, often determining its persuasiveness or validity.

Counterexamples

Instances or cases that contradict a claim or generalization, showing it to be false or incomplete.

Fallacy

An error in reasoning that renders an argument invalid or leads to an incorrect conclusion.

Argument's Premises

The foundational statements or propositions upon which an argument is based and from which conclusions are drawn.