Chosen Solution

I would like to setup my macbook to use just the system, keeping the lid closed, external monitor, wireless mouse/keyboard. Is this possible? Due to my lack of knowledge with Apple/Mac Specific cables, will the thunderbolt cable work with my macbook, to which i would go from thunderbolt to hdmi… Or is it not a thunderbolt but a different type of cable?

If it looks like a thunder port but is not it is probably a mini-display port. See this so you can tell the difference: http://www.cnet.com/news/confusing-mini-… If that is the case you would need an adapter like this to get to HDMI: http://www.newegg.com/Product/Product.as

You have to get a thunderbolt to hdmi adapter. The connect the hdmi wire into an external monitor.