Homework Answers
1. Option A
Explanation: Economic models do not always reach verifiable results.
5. False
Explanation: Individuals face opportunity costs even in the absence of external costs.
24. True
Explanation: These accounts are quarterly released.
25. True
Explanation: The phases of business cycle are not predictable.
26. Option B
Explanation: Economic output can be measured by both income and expenditure.
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