A good economic theory is always more useful when it includes detailed facts, even if the facts are not relevant to the questions being investigated
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 7-5. The efficient price of medical services is
A) $40. B) $55. C) $65. D) > $65.
Laura Kaid owns a business and is willing to invest in capital until, at the margin, her investment yields a cash stream with a present value less than the marginal cost of the investment
a. True b. False
Economic theories, or models, enable us to predict and to give reasonable explanations regarding economic variables
a. True b. False Indicate whether the statement is true or false
In practice, the Fed's policy of targeting money market conditions in the 1960s proved to be
A) countercyclical, helping to stabilize the economy. B) procyclical, destabilizing the economy. C) procyclical, helping to stabilize the economy. D) countercyclical, destabilizing the economy.