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    Principles of Macroeconomics Study Set 11
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    Exam 1: The Scope and Method of Economics
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    Explain What Is Meant by the Term Ceteris Paribus
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Explain What Is Meant by the Term Ceteris Paribus

Question 61

Question 61

Essay

Explain what is meant by the term ceteris paribus. Why is this concept often used in economic models?

Correct Answer:

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Ceteris paribus means "all els...

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