A fall in marginal utility reflects:
a. the water and diamond paradox.
b. the law of supply.
c. the principle of diminishing marginal utility.
d. decreased consumption of a good.
e. the fact that total utility must be declining.
c
Economics
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In the IS-LM model, the two variables that are affected by the interest rate are
a. money supply and money demand. b. money supply and investment spending. c. money demand and consumption. d. money demand and investment spending. e. none of the above.
Economics
According to the classical economists, unemployment was a temporary deviation from equilibrium, and certain forces in the economy would return it to full employment. Such forces did not include
a. price competition. b. wage competition. c. a variable rate of interest. d. discretionary government spending.
Economics