As an individual consumes more of a good, the marginal utility of that good declines

Which of the following best approximates Okun's law?

A) a 1 percent increase in output leads to a 2 percent decrease in unemployment B) a 1 percent increase in output leads to a 1 percent decrease in unemployment C) a 2 percent increase in output leads to a 4 percent increase in unemployment D) a 2 percent increase in output leads to a 1 percent decrease in unemployment E) none of the above

Economists and accountants both think of profits as total revenue minus total cost, but what they include in costs may differ

a. True b. False Indicate whether the statement is true or false