Predicate Logic and Economics
| Description: Predicate Logic and Economics Quiz | |
| Number of Questions: 14 | |
| Created by: Aliensbrain Bot | |
| Tags: predicate logic economics formal logic |
Which of the following is a valid logical argument?
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If all men are mortal, and Socrates is a man, then Socrates is mortal.
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If all men are mortal, and Socrates is a philosopher, then Socrates is mortal.
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If all men are mortal, and Socrates is a dog, then Socrates is mortal.
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If all men are mortal, and Socrates is a cat, then Socrates is mortal.
The first option is a valid logical argument because it follows the rules of syllogism. The second and third options are invalid because the premises do not logically imply the conclusion. The fourth option is invalid because the premise "Socrates is a cat" is false.
What is the converse of the statement "If all economists are intelligent, then all intelligent people are economists"?
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If all intelligent people are economists, then all economists are intelligent.
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If all economists are intelligent, then some intelligent people are not economists.
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If some intelligent people are not economists, then all economists are intelligent.
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If some intelligent people are not economists, then all intelligent people are economists.
The converse of a statement is formed by switching the hypothesis and the conclusion. In this case, the hypothesis is "all economists are intelligent" and the conclusion is "all intelligent people are economists". Therefore, the converse is "if all intelligent people are economists, then all economists are intelligent".
Which of the following is an example of a predicate in economics?
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Consumer
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Utility
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Scarcity
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All of the above
A predicate is a property or characteristic that can be applied to a subject. In economics, predicates can be used to describe consumers, utility, scarcity, and other economic concepts.
What is the negation of the statement "Some goods are both scarce and desirable"?
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No goods are scarce and desirable.
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All goods are scarce and desirable.
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Some goods are not scarce and desirable.
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Some goods are scarce but not desirable.
The negation of a statement is the opposite of that statement. In this case, the negation of "Some goods are both scarce and desirable" is "Some goods are not scarce and desirable".
Which of the following is an example of a logical fallacy in economics?
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Post hoc ergo propter hoc
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Appeal to authority
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Straw man
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All of the above
A logical fallacy is an error in reasoning that makes an argument invalid. Post hoc ergo propter hoc is the fallacy of assuming that because one event follows another, the first event caused the second. Appeal to authority is the fallacy of relying on the opinion of an expert without considering the evidence. Straw man is the fallacy of attacking a weak version of an opponent's argument instead of the actual argument.
What is the difference between a necessary condition and a sufficient condition?
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A necessary condition is a condition that must be met in order for something to happen, while a sufficient condition is a condition that is enough to cause something to happen.
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A necessary condition is a condition that is enough to cause something to happen, while a sufficient condition is a condition that must be met in order for something to happen.
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A necessary condition is a condition that is neither necessary nor sufficient to cause something to happen, while a sufficient condition is a condition that is both necessary and sufficient to cause something to happen.
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A necessary condition is a condition that is both necessary and sufficient to cause something to happen, while a sufficient condition is a condition that is neither necessary nor sufficient to cause something to happen.
A necessary condition is a condition that must be met in order for something to happen. A sufficient condition is a condition that is enough to cause something to happen. For example, having a college degree is a necessary condition for becoming a doctor, but it is not a sufficient condition. You also need to pass the medical boards and complete a residency program.
What is the difference between a deductive argument and an inductive argument?
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A deductive argument is an argument in which the conclusion is guaranteed to be true if the premises are true, while an inductive argument is an argument in which the conclusion is only probably true even if the premises are true.
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A deductive argument is an argument in which the conclusion is only probably true even if the premises are true, while an inductive argument is an argument in which the conclusion is guaranteed to be true if the premises are true.
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A deductive argument is an argument in which the premises are true and the conclusion is false, while an inductive argument is an argument in which the premises are false and the conclusion is true.
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A deductive argument is an argument in which the premises are false and the conclusion is false, while an inductive argument is an argument in which the premises are true and the conclusion is true.
A deductive argument is an argument in which the conclusion is guaranteed to be true if the premises are true. An inductive argument is an argument in which the conclusion is only probably true even if the premises are true.
What is the difference between a positive statement and a normative statement?
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A positive statement is a statement that describes the world as it is, while a normative statement is a statement that prescribes how the world should be.
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A positive statement is a statement that prescribes how the world should be, while a normative statement is a statement that describes the world as it is.
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A positive statement is a statement that is true or false, while a normative statement is a statement that is neither true nor false.
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A positive statement is a statement that is neither true nor false, while a normative statement is a statement that is true or false.
A positive statement is a statement that describes the world as it is. A normative statement is a statement that prescribes how the world should be.
What is the difference between a microeconomic model and a macroeconomic model?
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A microeconomic model is a model that focuses on the behavior of individual economic agents, such as consumers and firms, while a macroeconomic model is a model that focuses on the behavior of the economy as a whole.
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A microeconomic model is a model that focuses on the behavior of the economy as a whole, while a macroeconomic model is a model that focuses on the behavior of individual economic agents, such as consumers and firms.
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A microeconomic model is a model that is used to predict the behavior of individual economic agents, such as consumers and firms, while a macroeconomic model is a model that is used to predict the behavior of the economy as a whole.
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A microeconomic model is a model that is used to predict the behavior of the economy as a whole, while a macroeconomic model is a model that is used to predict the behavior of individual economic agents, such as consumers and firms.
A microeconomic model is a model that focuses on the behavior of individual economic agents, such as consumers and firms. A macroeconomic model is a model that focuses on the behavior of the economy as a whole.
What is the difference between a positive externality and a negative externality?
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A positive externality is a benefit that one economic agent receives from the actions of another economic agent, while a negative externality is a cost that one economic agent imposes on another economic agent.
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A positive externality is a cost that one economic agent imposes on another economic agent, while a negative externality is a benefit that one economic agent receives from the actions of another economic agent.
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A positive externality is a benefit that one economic agent receives from the actions of another economic agent, while a negative externality is a benefit that one economic agent receives from the actions of another economic agent.
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A positive externality is a cost that one economic agent imposes on another economic agent, while a negative externality is a cost that one economic agent imposes on another economic agent.
A positive externality is a benefit that one economic agent receives from the actions of another economic agent. A negative externality is a cost that one economic agent imposes on another economic agent.
What is the difference between a public good and a private good?
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A public good is a good that is non-rivalrous and non-excludable, while a private good is a good that is rivalrous and excludable.
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A public good is a good that is rivalrous and excludable, while a private good is a good that is non-rivalrous and non-excludable.
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A public good is a good that is non-rivalrous but excludable, while a private good is a good that is rivalrous but non-excludable.
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A public good is a good that is rivalrous but non-excludable, while a private good is a good that is non-rivalrous but excludable.
A public good is a good that is non-rivalrous and non-excludable. A private good is a good that is rivalrous and excludable.
What is the difference between a monopoly and a perfect competition?
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A monopoly is a market structure in which there is only one seller, while a perfect competition is a market structure in which there are many buyers and sellers.
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A monopoly is a market structure in which there are many buyers and sellers, while a perfect competition is a market structure in which there is only one seller.
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A monopoly is a market structure in which there are many buyers and sellers, but the sellers are able to collude to set prices, while a perfect competition is a market structure in which there are many buyers and sellers and the sellers are not able to collude to set prices.
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A monopoly is a market structure in which there are many buyers and sellers, but the buyers are able to collude to set prices, while a perfect competition is a market structure in which there are many buyers and sellers and the buyers are not able to collude to set prices.
A monopoly is a market structure in which there is only one seller. A perfect competition is a market structure in which there are many buyers and sellers.
What is the difference between a positive externality and a negative externality?
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A positive externality is a benefit that one economic agent receives from the actions of another economic agent, while a negative externality is a cost that one economic agent imposes on another economic agent.
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A positive externality is a cost that one economic agent imposes on another economic agent, while a negative externality is a benefit that one economic agent receives from the actions of another economic agent.
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A positive externality is a benefit that one economic agent receives from the actions of another economic agent, while a negative externality is a benefit that one economic agent receives from the actions of another economic agent.
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A positive externality is a cost that one economic agent imposes on another economic agent, while a negative externality is a cost that one economic agent imposes on another economic agent.
A positive externality is a benefit that one economic agent receives from the actions of another economic agent. A negative externality is a cost that one economic agent imposes on another economic agent.
What is the difference between a public good and a private good?
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A public good is a good that is non-rivalrous and non-excludable, while a private good is a good that is rivalrous and excludable.
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A public good is a good that is rivalrous and excludable, while a private good is a good that is non-rivalrous and non-excludable.
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A public good is a good that is non-rivalrous but excludable, while a private good is a good that is rivalrous but non-excludable.
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A public good is a good that is rivalrous but non-excludable, while a private good is a good that is non-rivalrous but excludable.
A public good is a good that is non-rivalrous and non-excludable. A private good is a good that is rivalrous and excludable.