Two products that serve similar purposes for a consumer would be referred to as

a. substitutes.
b. complements.
c. inferior goods.
d. unrelated goods.

A

Economics

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In the aggregate expenditures model, if aggregate expenditures (AE) are less than GDP, then:

a. inventory is depleted. b. inventory is unchanged. c. employment decreases. d. employment increases.

Economics

_____ is the change in total utility that occurs because one more unit of a good is consumed or acquired

a. Total utility b. Marginal utility c. Disutility d. Diminishing marginal utility e. Expected utility

Economics