As more bananas are consumed, other things constant, marginal utility tends to decrease at:
a. the same rate for all people.
b. the same rate for all goods for a given person.
c. the same rate for all people.
d. different rates for different people and for other goods.
e. different rates for different people, but at the same rate as other goods.
d
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Holding all other personal characteristics-such as age, gender, and income-constant, economists would expect that
A) people without health insurance will be more likely to be overweight than people with health insurance. B) there is no correlation between not having health insurance and being overweight. C) people without health insurance will be less likely to be overweight than people with health insurance. D) people without health insurance will be equally likely to be overweight as people with health insurance.
The classical dichotomy refers to the idea that the supply of money
a. is irrelevant for understanding the determinants of nominal and real variables. b. determines nominal variables, but not real variables. c. determines real variables, but not nominal variables. d. is a determinant of both real and nominal variables.