A rational consumer should not consume more of a good when:
a. total utility is decreasing.
b. marginal utility is diminishing.
c. both a and b.
d. income is decreasing.
e. the price is high.
a
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The view that inappropriate monetary policy was the main reason for the depth of the Great Depression in the United States is most closely associated with
A. the monetarist view. B. the rational expectations theory. C. the mainstream view. D. the real business cycle theory.
When the price of Cosmopolitan magazine decreases from $5 to $3, the quantity demanded increases from 600,000 to 1,000,000 copies each month. Using the midpoint method, the price elasticity of demand equals
A) 1. B) 3. C) 2. D) 1/3. E) 1/2.
A market's equilibrium is the point at which the supply and demand curves intersect
a. True b. False Indicate whether the statement is true or false
Which of the following is true regarding the policy positions of George H.W. Bush and Bill Clinton in the 1992 election?
a. Bush's approach was relatively more active, while Clinton's was relatively more passive. b. Both Bush and Clinton were advocates of a passive approach. c. Bush's approach was relatively more passive, while Clinton's was relatively more active. d. Both Bush and Clinton were advocates of an active approach.