The theory of consumer choice is representative of how consumers make decisions but is not intended to be a literal account of the process
a. True
b. False
Indicate whether the statement is true or false
True
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If this is a closed economy how many cars will be exchanged? 
A. 80,000 B. 20,000 C. 60,000 D. 40,000
Any scientific theory
A) emphasizes some factors while slighting others. B) contains some biases. C) offers no guarantee of being completely valid and true. D) is characterized by all of the above. E) is characterized by none of the above.
Refer to Table 9-8. Suppose that the data in the table above reflect the price levels in the economy. What is the inflation rate in between 2015 and 2016?
A) 2% B) 5% C) 10% D) 12% E) 20%
Suppose a developing country experiences a reduction in machinery and capital equipment as foreign entrepreneurs decrease the amount of investment in the economy. As a result
A) the economy will move up along the long-run aggregate supply curve. B) the long-run aggregate supply curve will shift to the right. C) the long-run aggregate supply curve will shift to the left. D) the economy will move down along the long-run aggregate supply curve.