The law of diminishing marginal utility is consistent with the consumer behavior that produces a negatively sloped demand curve
a. True
b. False
Indicate whether the statement is true or false
True
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In an open economy with fixed exchange rates, monetary policy is most effective at increasing real income if
A) capital mobility is high. B) capital mobility is low. C) capital mobility is perfect. D) monetary policy is ineffective with fixed exchange rates.
Taking out a mortgage to buy a condo, buying a mutual fund, and building a new factory are all examples of investment
a. True b. False Indicate whether the statement is true or false
Any basket of goods that is missing food and energy items is:
A. called the retail sales index. B. missing a small portion of a typical consumer's basket. C. a useless calculation. D. missing a large portion of consumption.
Using the above table, the marginal utility for the sixth glass of water is
A. -5 utils. B. 260 utils. C. 255 utils. D. 5 utils.