ARRA involved substantial
a. increases in government spending.
b. decreases in government spending.
c. increases in the money supply

Comment on the following statement: "Diminishing marginal utility means that total utility falls when an additional unit of a good is consumed."

What will be an ideal response?

Pure monopoly is defined as a

a. one-firm industry. b. market structure in which there are many substitute products. c. market structure maintained by entry of many rival firms. d. market structure created by special government sanctions.