When Economists Use the Term "Ceteris Paribus," They Mean That

question 156

Multiple Choice

When economists use the term "ceteris paribus," they mean that:

• A)​the causal relationship between two economic variables cannot be determined.
• B)​the analysis is true for the individual but not for the economy as a whole.
• C)​all other variables except the ones specified are assumed to be constant.
• D)​their conclusions are based on normative rather than positive economic analysis.

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Definitions:

Biconditional

A logical statement where both conditions must either be true or false for the statement to be true.

Disjunction

A logical operation yielding true if at least one of the operands is true.

Conjunction

In grammar, a word used to connect clauses or sentences or to coordinate words in the same clause.

Symbolize

The act of representing something using symbols or symbolism.