Economic Theories

question 206

Multiple Choice

Economic theories

• A) are useless because they are not based on laboratory experimentation.
• B) that are true for individual economic units are never true for the economy as a whole.
• C) are generalizations based on hypotheses tested and supported with observed facts.
• D) are abstractions and therefore of no application to real situations.

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Definitions:

Facial Expressions

The movements of the face that convey emotional states, intentions, or social information to others.

Emotion

A complex state of feeling that results in physical and psychological changes influencing thought and behavior.

Introverts

Individuals who prefer minimally stimulating environments and tend to focus on internal thoughts and feelings rather than seeking external stimulation.

Extraverts

Individuals who are characterized by their outgoingness, high energy, and ease in social situations, often seeking stimulation from the external environment.