The law of diminishing marginal utility indicates that the marginal utility curve is:
a. downward sloping.
b. upward sloping.
c. U-shaped.
d. flat.
e. vertical.
a
You might also like to view...
An inward shift of the production possibilities curve
A. represents an economic decline. B. means that the previous levels of production are now unobtainable except under unusual circumstances such as war. C. means that the economy can produce more of both goods. D. represents an economic decline AND means that the previous levels of production are now unobtainable except under unusual circumstances such as war.
If the federal government collects $10 billion in taxes and then spends it on the public, the money supply
A) rises by $20 billion. B) rises by $10 billion. C) falls by $10 billion. D) is unaffected.
If the price of inputs rises and personal income taxes rise:
a. Aggregate demand falls and aggregate supply rises. b. Aggregate demand rises and aggregate supply rises. c. Aggregate demand falls and aggregate supply falls. d. Neither the aggregate demand nor the aggregate supply change. e. None of the above.
Although a statement enumerating appropriate ethics standards was articulated in 1991, attempts to regulate interest groups have never made it through the Texas State Legislature.
Indicate whether the statement is true or false