Which of the following statements is true?
A) The motivation to try to explain something is at the heart of building a theory.
B) If a theory makes people uncomfortable then it should be discarded or ignored.
C) In order for a theory to be valid it must be a perfect description of reality.
D) Building a theory and evaluating a theory are the same thing.
A
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In August 2007, Sun Trust Bank has $83 million in loans and $114 million in M1 deposits. If Sun Trust is holding $4 million in reserves, the bank's reserve ratio is
A) $31 million. B) 4.8 percent C) 3.5 percent. D) 72.8 percent.
Increases in inventories are subtracted from GDP because they reflect output that is produced but not sold
a. True b. False
Harry owns a hot dog stand near campus. When a pizza stand opens next to Harry's hot dog stand, he finds that he has to lower the price of his hot dogs in order to attract the same number of customers. Explain why this is the case
The GDP per capita is the most practical way to
A. Measure how much income households receive. B. Make international comparisons of the standard of living. C. Measure how much output can be consumed on a sustainable basis. D. Analyze the growth rate of the economy through time.