Marginal utility
A) characterizes things of little use.
B) is the additional utility derived from the last unit of a good consumed.
C) is an implication of the law of demand.
D) is always negative when total utility is positive and positive when total utility is negative.
B
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Refer to the diagrams. A decline in aggregate expenditures from AE 2 to AE 1 resulting from the real-balances, interest-rate, and foreign purchases effects would be depicted as:
A. a movement from A to C along aggregate demand curve AD 1 .
B. a movement from C to A along aggregate demand curve AD 1 .
C. a shift of aggregate demand from AD 1 to AD 2 .
D. a shift of aggregate demand from AD 2 to AD 1 .
A system in which the value of currency issued by the government is based entirely on public faith that the currency will be acceptable in trade is
A. a fiduciary system. B. a socialistic system. C. a private property system. D. a Gresham system.