The Ceteris Paribus Assumption Is Important in Economics Because

question 70

Multiple Choice

The ceteris paribus assumption is important in economics because

• A)all empirical data are equal.
• B)it would be impossible to relate the effects of changes in one variable on another without holding some variables constant.
• C)economic data move very slowly over time and so they can always be considered constant.
• D)models are always complex and require as many variables as possible.

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Definitions:

Squirrel Populations

groups of squirrels living in a particular area, whose dynamics and demographics can be studied for ecological and conservation purposes.

Foxes

small to medium-sized, omnivorous mammals belonging to several genera of the family Canidae.

Slash And Burn

A method of agriculture where vegetation is cut down and burned to clear land for temporary cultivation.

Grass Production

The cultivation and management of grasses for various uses, including fodder, lawn, and agricultural purposes.