By Using the Ceteris Paribus Assumption in Conjunction with a Model

question 265

Multiple Choice

By using the ceteris paribus assumption in conjunction with a model, economists can

• A) suspend the rationality assumption.
• B) avoid having their model depend on any additional assumptions.
• C) hold certain factors constant.
• D) be sure that the model will predict correctly.

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Definitions:

Manifest Function

The intended and recognized outcome of a social process or institution.

Latent Function

Unintended or unrecognized consequences of an institution, action, or social process that may not have been explicitly acknowledged.

Dysfunctional Function

A paradoxical term often used to describe societal practices or institutions that persist despite having negative effects on the social system.

Contributing Function

A role or activity that plays a part in achieving a larger purpose or result.