Which of the following does the Federal Reserve not do?

Competition between the United States and Mexico is

A) equivalent to the competition between two giant corporations. B) a struggle over which country will get the best jobs. C) unfair if wages in Mexico are lower than in the United States. D) not a meaningful way to analyze trade.

Answer the following statements true (T) or false (F)

1. Marginal utility is the accumulation of the total utility from successive units of a good or service consumed. 2. The law of diminishing marginal utility suggests that the total utility that a consumer derives from a product will increase slower and slower as more of the product is consumed. 3. If total utility increases as consumption of a good increases, then marginal utility must be increasing also. 4. With diminishing marginal utility, if a consumer reduces her consumption of a good, then her marginal utility from that good would increase. 5. The price of chicken = 5 while the price of pork = 9. If, after spending her entire budget, the consumer has MU of chicken = 6 while the MU of pork = 12, then the consumer should have bought more chicken and less pork in order to increase his total utility.