Krugman's Economics For The Ap® Course
3rd Edition
ISBN: 9781319113278
Author: David Anderson, Margaret Ray
Publisher: Worth Publishers
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Question
Chapter 1R, Problem 25MCQ
To determine
The question requires us to determine the true fact about the term ceteris paribus.
Expert Solution & Answer
Explanation of Solution
Economists make a model to represent the complex economic situation in a simplified way. They use assumptions to create hypothetical situations so that the theories and empirical values they are developing can be understand by normal people.
One of the assumptions made by economists is “ceteris paribus” which means keeping other factors constant. This assumption simplifies the study of how a change in a single factor can affect an economy while keeping other factors constant.
So, the ceteris paribus simplifies the study of how a single change impacts an economy.
Option “c” is correct.
Chapter 1R Solutions
Krugman's Economics For The Ap® Course
Ch. 1R - Prob. 1MCQCh. 1R - Prob. 2MCQCh. 1R - Prob. 3MCQCh. 1R - Prob. 4MCQCh. 1R - Prob. 5MCQCh. 1R - Prob. 6MCQCh. 1R - Prob. 7MCQCh. 1R - Prob. 8MCQCh. 1R - Prob. 9MCQCh. 1R - Prob. 10MCQ
Ch. 1R - Prob. 11MCQCh. 1R - Prob. 12MCQCh. 1R - Prob. 13MCQCh. 1R - Prob. 14MCQCh. 1R - Prob. 15MCQCh. 1R - Prob. 16MCQCh. 1R - Prob. 17MCQCh. 1R - Prob. 18MCQCh. 1R - Prob. 19MCQCh. 1R - Prob. 20MCQCh. 1R - Prob. 21MCQCh. 1R - Prob. 22MCQCh. 1R - Prob. 23MCQCh. 1R - Prob. 24MCQCh. 1R - Prob. 25MCQCh. 1R - Prob. 1FRQCh. 1R - Prob. 2FRQCh. 1R - Prob. 3FRQ
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