If inflationary expectations are increasing, we would expect that the nominal interest rate would also be increasing, holding all else constant

Have you ever gone to an auction? You see people bidding against each other for a good, such as an oil painting. As the bidding price inches upward, people drop out of the bidding process. Why? Because for the people dropping out, the

a. ratio of marginal utility to price of the good increases beyond the ratio of other goods b. marginal utility per dollar of the good increases beyond the marginal utility per dollar of other goods c. marginal utility per dollar of the good decreases below the marginal utility per dollar of other goods d. marginal utility of the good falls to zero e. ratio of marginal utility to price of the good falls to zero

On an individual level, our selection of one career rather than another represents which of the following economic concepts?

a. productivity b. externality c. opportunity d. specialization