If all actions are known to all then there is
A) a focused economy.
B) a negative externality.
C) transparency.
D) a dictatorship.
C
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The statement "as more of a good is consumed, the utility a person derives from each additional unit diminishes" is known as the:
a. water and diamond paradox. b. law of diminishing marginal utility. c. law of total utility. d. marginal-utility-to-price ratio equalization rule. e. law of diminishing demand.
The United States' involvement in World War II caused
a. both the aggregate demand curve and aggregate supply curve to shift outward, causing GDP to increase and the price level to decrease b. both the aggregate demand curve and aggregate supply curve to shift inward, causing GDP to increase and the price level to decrease c. the aggregate demand curve to shift inward and the aggregate supply curve to shift outward, causing both GDP and the price level to increase d. the aggregate demand curve to shift outward and the aggregate supply curve to shift inward, causing both GDP and the price level to increase e. aggregate demand to initially shift out, then reverse, leaving the economy at equilibrium