A closer look, however, suggests that a rules-based approach is superior. 1  A good monetary policy rule specifies a plan of action which the central bank cannot later ignore, while discretion allows central bankers to reactâand often overreactâto economic indicators as they see fit.
A syntax error is an error in commands. For example, the following command: dir (path) which displays a directory in a Windows Command Prompt. The following, dir c:/windows/system32 would show the contents of the Windows/system32 directory in the C: drive.
A fallacy is a mistake, and a logical fallacy is a mistake in reasoning. There are, of course, other types of mistake than mistakes in reasoning. For instance, factual mistakes are sometimes referred to as fallacies. However, The Fallacy Files is specifically concerned with logical errors, not factual ones.