Which of the following is true?
a. Virtually all theories in economics are expressed using a ceteris paribus (let everything else be equal or holding everything else constant) assumption.
b. The fallacy of composition is that, even if something is true for an individual, it is not necessarily true for many individuals as a group.
c. One must always be careful not to confuse correlation with causation.
d. All of the above are true.
Question 2
Included in the investment category of GDP under the expenditure approach is the purchase of parcels of land for the purposes of realizing capital gains when real estate values rise.
a. True
b. False
Indicate whether the statement is true or false
