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Macmillan Learning
The Core Principles of Economics — End of Chapter Problem
Consider the following statement: "Economists always put things into monetary terms; as a result, economics can most
appropriately be called the study of money."
Is this statement true or false?
False, economists use monetary terms because they can be quantified and compared, but economics is better described
as an approach to decision making.
False, even though economists use money as a form of measurement, economics is better described as the study of
financial markets.
False, even though economists use monetary terms often, economics is better described as a governmental approach to
improving market outcomes.
True, financial markets are the primary focus of economics.