The total utility of a consumer diminishes whenever:
a. he or she buys an additional unit of a good.
b. his or her marginal utility decreases.
c. his or her total utility increases at a decreasing rate.
d. the last unit consumed of a particular good is distasteful or provides dissatisfaction.
e. other consumers are also purchasing the product.
d
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When the Treasury borrows from the non-bank public and makes an expenditure of an equal amount, the money supply
A) rises by a multiple of the expenditure. B) rises by an amount equal to the expenditure. C) rises by an amount less than the expenditure. D) is unaffected.
Real GDP is the value of goods and services
A) adjusted only for unanticipated inflation. B) adjusted only for anticipated inflation. C) using base-year prices. D) using current-year prices.