As soon as a mayor announced his/her 'get tough on crime' policy on New Year's day, criminals got scared and the crime rate went down. Suppose that the lower crime rate was actually caused by freezing cold temperatures in Januaryit was just too cold for anybody to be out robbing other people. Which fundamental hazard of the economic way of thinking did the mayor make?
a. believing that what's good for one person is good for the whole group (the fallacy of composition)
b. failing to take into account the benefits of crime (the payoff fallacy)
c. believing that association is the same as causation
d. failing to understand the difference between positive and normative economics.
Question 2
Someone notices that sunspot activity is high just prior to recessions and concludes that sunspots cause recessions. This person has:
a. confused association and causation.
b. misunderstood the Ceteris paribus assumption.
c. used normative economics to answer a positive question.
d. built an untestable model.
(A) A 62-year-old patient with myxedema exhibiting marked edema of the face and a somnolent look. Th
Why Different Constellations Are Visible at Different Times of the Year
In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con
Booker T. Washington in his office at Tuskegee Institute, 1900. Washington chose a policy of accommo
Early in the twentieth century, when malnutrition was common, companies such as this one advertised
This 80-year old man in a village in Hubei, China, has slowed down, but he has not retired. He is ...