If total utility increases when you consume more of a good, then marginal utility must also be increasing as consumption rises.

a. true
b. false


b. false

Economics

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The process by which identical products that are tradeable converge to the same price is called

A) arbitrage. B) hedging. C) speculation. D) risk aversion.

Economics

The response of output following a natural disaster includes

A) an increase in output demand and an increase in output supply. B) an increase in output demand and a decrease in output supply. C) a decrease in output demand and an increase in output supply. D) a decrease in output demand and a decrease in output supply.

Economics

Some economists believe that because the government ______________ discouraged workers as unemployed, the unemployment rate is biased ________________

A) counts; upward B) counts; downward C) does not count; upward D) does not count; downward

Economics

Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.

A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary

Economics