Based on economic theory, the true and false statements on the economy are:
True:
- Events that occur locally, or nationally, impact the rest of the consumers and producers in this country.
- Microeconomics and macroeconomics are not separate subjects, but rather complementary perspectives on the overall subject of the economy.
False:
- A good theory is hard to understood, while simple enough to capture the key features of the object or situation being studied.
- Most real-world industries will either be a perfect competition or a monopoly and will not fall in the middle ground of market structures.
What is the economy like?
In order to explain the economy, economists turn to economic theory which are to be easy to understand and complex enough to capture the key things that are being studied.
Industries in the real world are often not fully purely competitive or a monopoly but instead fall somewhere in the middle.
Microeconomics and macroeconomics are not different but instead focus on different perspectives of an economy and therefore help explain how a local or national event can affect an entire nation.
Find out more on macroeconomics at https://brainly.com/question/17996535
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