Due to the law of diminishing marginal utility, _____
a. the first unit of a product offers more satisfaction than the last unit of the same product
b. the marginal utility curve is upward sloping
c. when marginal utility becomes negative, total utility increases
d. marginal utility is zero when total utility is zero
e. when marginal utility becomes positive, total utility declines
a
You might also like to view...
When the Fed changes money supply by selling government securities, the interest rate will
A) fall unless the LM curve is horizontal. B) fall unless the IS curve is vertical. C) rise if the LM curve is vertical or upward sloping. D) remain constant if the LM curve is vertical.
In practice, the Board of Governors and FOMC typically defer to the policy proposals of the:
A) President B) Chair of the Fed C) Secretary of Treasury D) Speaker of the House