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2. Which of the following terms means “all other things equal”? A. Post Hoc, Ergo Propter...

2. Which of the following terms means “all other things equal”? A. Post Hoc, Ergo Propter Hoc B. Fallacy of Composition C. Ceteris Paribus D. None of the above
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Answer #1

Option C is correct

It is a Latin phrase which basically means all other things are equal or constant / unchanged. When used in economics, for a particular variable that is influenced by many other variables, the effect of change in one variable is measured by keeping all other variables constant meaning ceteris Paribas

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