Which of the following is not one of the frequently mentioned goals of the Fed?

When the rate of growth of per capita income of poorer countries is higher than that of richer countries, it leads to economic convergence

a. True b. False Indicate whether the statement is true or false

A consumer will buy a new product rather than an existing product:

A. when the MU/P of the new product is less than the MU/P of the existing product. B. when the substitution of the new product for the old product increases the consumer's total utility. C. only if the new product has a lower price than the existing product. D. only if the MU of the new product exceeds the MU of the existing product.