The law of diminishing marginal utility states that as more and more units of a good or service are consumed, total utility becomes smaller and smaller
Indicate whether the statement is true or false
false
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Which of the following persons is hedging?
A) A commodity speculator who confines his purchases or sales to futures contracts B) A commodity speculator who confines his market activity to the purchase of futures C) A commodity speculator who confines his market activity to the sale of futures D) A farmer who buys September corn futures when he plants corn in May E) A farmer who sells September corn futures when he plants corn in May
According to the classical growth theory of Thomas Malthus
A) labor productivity increases continuously. B) the population growth rate is fixed. C) technological advances lead to permanent increases in real GDP per person. D) increases in real GDP per person are only temporary.
The desirability of an export orientation for development rests on the claim that export industries
a. make better use of domestic resources than do import-substitute industries b. attract foreign investors c. use factors of production that are abundant domestically d. earn more foreign exchange than would be saved by substituting for imports e. all of the above
Which of the following is NOT an example of a financial intermediary?
A. a pension fund B. an insurance company C. the U.S. Treasury Department D. a credit union