Using the expenditure approach, total spending by households for durable goods, nondurable goods, and services is a category called:

The rise in output of corn and wheat was achieved more by increasing acres farmed than by raising output per acre

Indicate whether the statement is true or false

In the theory of utility, it is assumed that marginal utility:

a. increases as the consumption of a product increases. b. is always zero irrespective of any increase or decrease in consumption. c. remains constant when consumption of a product increases. d. diminishes as the consumption of a product increases. e. remains constant when the consumption of a product decreases.