Multiple Choice
John, a farmer, thinks he will make a profit next year if the weather stays the same, if the price of his crop doesn't change, and if the price of fertilizer and seed does not change. An economist would say that this farmer thinking he will make a profit the following year is an example of
A) laissez-faire.
B) ceteris paribus.
C) post hoc ergo propter hoc.
D) e pluribus unum.
Correct Answer:
Verified
Correct Answer:
Verified
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