Because of the multiple tools at its disposal, the Fed can control the money supply very precisely
a. True
b. False
Indicate whether the statement is true or false
False
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As output increases, marginal cost will eventually
A) increase because of the law of increasing returns. B) increase because of the law of diminishing returns. C) decrease because of the law of diminishing returns. D) decrease because of the law of increasing returns.
Marginal utility theory predicts that when the price of one good rises, the demand for another good is a substitute increases. This change occurs because of
A) an increase in the marginal utility per dollar from the substitute good. B) an increase in the marginal utility of the substitute good. C) a decrease in the marginal utility per dollar from the good whose price has risen. D) a decrease in the marginal utility of the good whose price has risen.