Asked by
Mollie Keeler
on Oct 26, 2024
Verified
"All other relevant factors remain unchanged" is another way of saying:
A) all other things equal.
B) allow several variables to change to understand how those variables affect one variable held constant.
C) allow all variables to change and attempt to understand how the variables interact with each other.
D) no variables change.
All Other Things Equal
A phrase used in economics, indicating that all other variables are held constant except the variables being studied.
Relevant Factors
Factors that significantly impact the analysis or outcome of a particular situation or model.
- Explain the importance of assumptions in economic theory, specifically "ceteris paribus".
Verified Answer
AH
Learning Objectives
- Explain the importance of assumptions in economic theory, specifically "ceteris paribus".