Consumers must understand the economist’s law of diminishing marginal utility in order to maximize their satisfaction.
Indicate whether the statement is true or false.
Ans: False
Economics
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If the quantity of a product demanded is greater than the quantity of a product supplied, there is pressure in the market to push the price downward
Indicate whether the statement is true or false
Economics
Imperfect information can be an entry barrier
Indicate whether the statement is true or false
Economics
One of the causes of structural unemployment is _______ shocks.
A. small, slow, and relatively permanent B. large, quick-hitting, temporary C. large, quick-hitting, and relatively permanent D. large, slow, and relatively permanent
Economics
Wartime inflation occurs when war requires a country to shift resources away from efficient uses into war-related production
Indicate whether the statement is true or false
Economics