A consumer maximizes utility when the marginal utilities of all goods
a. having positive money prices that are equal to zero
b. are equal
c. are maximized
d. are equal to the opportunity costs for all goods that are considered necessities
e. are exactly proportional to their market prices
E
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The financial institutions in our banking system are all in the business of transferring funds from savers to investors. This process is known as
A) financial intermediation. B) money laundering. C) parachuting. D) lobbying.
In order to prosper, entrepreneurs must
a. undertake projects that create wealth and increase the value of resources. b. find ways to prevent technological change. c. have their own wealth with which to finance projects that they want to undertake. d. undertake projects that use resources that are more valuable than is the output they produce.