In the "Interdisciplinary Perspective" titled "A Philosophical Critique on the Marginal Utility of Money," the basic point made is that
a. the law of diminishing marginal utility does not apply to money
b. marginal utility always increases at an increasing rate for money
c. once basic needs are met, additional income or wealth does not increase happiness
d. most of the theories advanced by economists are flawed
e. the total utility function for money has a downward slope
C
Economics
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A price floor would be established in cases where the government believed the market equilibrium price would:
a. result in a surplus. b. be too high. c. result in a shortage. d. be too low. e. yield excess profits.
Economics
In calculating a price index, the period to which prices in all other periods are compared is known as the
a. comparison period. b. average period. c. current period. d. base period.
Economics