A good theory is hard to understood, while simple enough to capture the key features of the object or situation being studied.
True
False
Events that occur locally, or nationally, impact the rest of the consumers and producers in this country.
True
False
Microeconomics and macroeconomics are not separate subjects, but rather complementary perspectives on the overall subject of the economy.
True
False
Most real-world industries will either be a perfect competition or a monopoly and will not fall in the middle ground of market structures.
True
False
