Business
Business, 03.08.2021 16:50, kitt90335

Economists claim that individuals buy less as the price of a good increases. However, even though housing prices have been rising, home sales have also been increasing, so economic theory must be wrong. Which of the following best characterizes the statement? a. The statement ignores the secondary effects of government policies.
b. The statement contains the fallacy of composition.
c. The statement violates the ceteris paribus condition.
d. The statement demonstrates that association proves causation.

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Economists claim that individuals buy less as the price of a good increases. However, even though ho...

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