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4 Written questions

4 Multiple choice questions

  1. a visual model of the economy that shows how dollars flow through markets among households and firms
  2. Stuff
  3. Households and firms
  4. A highly simplified representation of a more complicated reality

3 True/False questions

  1. Production possibilities frontierClaims that attempt to describe the world as it is

          

  2. Positive statementsClaims that attempt to describe the world as it is

          

  3. EfficientHouseholds and firms