The statement that "as more of a good is consumed, its extra benefit declines" refers to
A) the law of demand.
B) the law of diminishing marginal product.
C) the law of diminishing marginal utility.
D) the law of comparative advantage.
Answer: C
Economics
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The value of an investment in an index fund depends on
a. the earnings estimate for the major index constituent. b. the average performance of all mutual funds. c. what happens to the prices of all stocks in that index. d. the specific stock selection practices employed by the fund manager.
Economics
Monetary policy is most likely to result in inflation when the aggregate supply curve is
A. Horizontal and the Fed lowers the reserve ratio. B. Horizontal and the Fed sells securities. C. Vertical and the Fed raises the reserve requirement. D. Vertical and the Fed lowers the discount rate.
Economics