In economics, the phrase 'other things the same' is often used to indicate which of the following?

• A. That all relevant variables except the ones being studied are held constant
• B. That the results are not affected by any changes in variables
• C. That all variables are allowed to change simultaneously
• D. That only irrelevant variables are held constant

Answer: (A)

Verified step by step guidance

1. Understand that the phrase 'other things the same' (also known as ceteris paribus) is used in economics to isolate the effect of one variable by holding other relevant variables constant.
2. Recognize that this assumption allows economists to study the relationship between specific variables without interference from changes in other factors.
3. Identify that 'other things the same' means all relevant variables except the ones being studied are held constant, ensuring a controlled analysis.
4. Note that this does not mean all variables are allowed to change simultaneously or that irrelevant variables alone are held constant.
5. Conclude that the phrase implies holding constant all relevant variables except the ones under consideration to understand their direct impact.