The conundrum between valuable water and a relatively unusable diamond is explained by the
a) Paradox of life.
b) Paradox of count.
c) Paradox of utility.
d) Paradox of value.
Answer: d) Paradox of value
Economics
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The major objective of the European Central Bank is to control taxes as a means of deficit spending
a. true b. false
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As the price level ________, the purchasing power of money ________.
A. increases; increases B. increases; decreases C. decreases; decreases D. decreases; stays the same
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Which of the following is most likely to be a monopolistically competitive firm?
A) smart phone producer B) cell phone service provider C) college textbook publisher D) computer software maker
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Economists define a labor market with only one buyer to be:
a. a monopoly. b. an oligopoly. c. a monopsony. d. perfectly competitive. e. backward bending.
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