ECON for Macroeconomics
Quiz 1: The Art and Science of Economic Analysis
Economists Often Focus on Average Behavior Because It Is Easier
Economists often focus on average behavior because it is easier to predict.
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Economic theory allows us to predict the behavior of a specific person or firm.
The association-causation fallacy is the error of assuming that what is true for one member of a group must be true for the group.
The fallacy of composition is the error of believing a cause-effect relationship exists between two events that are associated in time.
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