A theory is a(n) __________ representation of how two or more variables interact with each other.
a. simplified
b. complex
c. alternative
d. contradictory
a. simplified
A theory is a simplified representation of how two or more variables interact with each other.
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The nominal interest rate tells you how fast the number of dollars in your bank account rises over time
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown, which shows the demand and supply for a new vaccine against the common cold. Once vaccinated, a person cannot catch a cold or give a cold to someone else. If government does not subsidize the production of this vaccine:
A. the number of workers hired to produce the vaccine will be less than the socially efficient level. B. the vaccine will be overproduced because consumers will not take into account the fact that many of their neighbors and co-workers will consume the vaccine. C. the firm producing the vaccine will use too much capital in producing the vaccine. D. no positive externality can be created.
National saving equals
A) household saving + business saving. B) household saving + business saving + government saving. C) household saving + business saving + net taxes - government expenditure. D) Both answers B and C are correct.
Which of the following statements best describes the relationship between exchange rates and aggregate demand for U.S. output?
A. The exchange rate has no effect on aggregate demand. B. A high exchange rate for the dollar tends to increase aggregate demand, and a low rate tends to reduce it. C. Aggregate demand for U.S. output increases as the exchange rate increases. D. A high exchange rate for the dollar tends to reduce aggregate demand, and a low rate tends to increase it.