The law of diminishing marginal utility states that total utility must eventually diminish in the consumption of any good or service

Savings deposits and time deposits are not included in M1 because these are not held by the nonbanking public

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

As a resource becomes more scarce, we expect its price to

A. rise. B. fall. C. remain constant. D. fluctuate wildly.