The Assumption That "Other Things Are Constant" Is Also Known

question 185

Multiple Choice

The assumption that "other things are constant" is also known as the

• A) ceteris paribus assumption.
• B) rational self-interest assumption.
• C) distinguishing characteristic of economics as a science.
• D) relationships assumption.

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Definitions:

Corporations

Are legal entities that can enter into contracts and own property. They are taxed at a lower rate than individuals are and their owners are normally not liable for the corporation’s debt or any harm it may cause the public.

Crimes

Acts or omissions that violate laws and are punishable by the state or other authority.

Convicted

The formal declaration that someone is guilty of a criminal offense, made by the verdict of a jury or the decision of a judge.

Gang Members

Individuals who are part of an organized group known for committing criminal activities and occupying certain territories or social spaces.